Monday, January 21, 2013

GAO - Government Books Are A Mess

The non-partisan US Government Accountability Office could not complete its audit of the government's 2011-12 Consolidated Financial Statements because the government's books are such a mess.   In fact, if the government was a major publicly traded corporation, someone would be going to jail for fraud because this level of incompetence is illegal in the real world.   In addition, the GAO reported on the Federal Government's Long Term Fiscal Outlook by saying that Obama's current spending that is adding to our $16.4 Trillion National Debt is simply unsustainable.  Don't forget, we also have at least $100 Trillion in unfunded liability sitting out there for Social Security, Medicare and government pensions and no way to pay for it.   We are sitting on a time bomb worse than any Terrorist attack. 

Surprise, Surprise.   This Blogger has been sounding alarms bells throughout Obama's Presidency as this Socialist President has added $6 Trillion to our National Debt, more than any President in American history, with no end in sight.   Further, while the Republican led House of Representatives has enacted two common sense budgets in the last two years that cut spending by $5 Trillion over the next ten years, still not enough; but better than nothing, the US Senate led by Socialist Senator Dirty Harry Reid of Nevada has not enacted a budget in four years, even though it is a Constitutional requirement. 

Why are these characters, including the President, still getting a monthly pay check if they refuse to do the job.   Obama and his Socialist pals in Congress are bankrupting our country because they refuse to cut spending, or reform Entitlements.   They want to raise taxes further, which will be a job killer.   We don't have a revenue problem.  We have a spending problem.   If all the wealth in the country was confiscated, which the Socialists would just love to do, it still would not be enough to fund their Socialist Schemes.   WE MUST CUT SPENDING DRAMATICALLY AND REFORM ENTITLEMENTS NOW TO GET OUR FISCAL HOUSE IN ORDER.   THERE IS NO OTHER WAY. 

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