GAO: Federal Government Run So Badly We Can’t Run An Accounting Audit…
A disaster in the making…
WASHINGTON- The U.S. Government Accountability Office said it could not render an opinion on the 2010 consolidated financial statements of the federal government, because of widespread material internal control weaknesses, significant uncertainties, and other limitations.
“Even though significant progress has been made since the enactment of key financial management reforms in the 1990s, our report on the U.S. government’s consolidated financial statement illustrates that much work remains to be done to improve federal financial management,” Acting Comptroller General Gene Dodaro said in a statement. “Shortcomings in three areas again prevented us from expressing an opinion on the accrual-based financial statements.”
The main obstacles to a GAO opinion were: (1) serious financial management problems at the Department of Defense that made its financial statements unauditable, (2) the federal government’s inability to adequately account for and reconcile intragovernmental activity and balances between federal agencies, and (3) the federal government’s ineffective process for preparing the consolidated financial statements.
In addition, the GAO said last week it was unable to render an opinion on the 2010 Statement of Social Insurance because of significant uncertainties, primarily related to the achievement of projected reductions in Medicare cost growth. The consolidated financial statements discuss these uncertainties, which relate to reductions in physician payment rates and to productivity improvements, and provide an illustrative alternative projection to illustrate the uncertainties.
Posted by ZIP on Tuesday, December 28, 2010, at 12:15 pm | 
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…And yet the federal government is organized enough and smart enough to be able to calculate to the nth degree how much I should pay in taxes…
Odd.
The audit should NOT be an option. Taxpayers demand and deserve an audit of the federal government to ensure our money is properly accounted.
A disaster in the making? No, the disaster has already happened. It started two years ago.
I’ve been waiting for this one.
Their inability to audit was obvious when they were crunching non-existent numbers during the Zerocare ‘debate.’
Let’s hire someone, and back them with subpoena powers, to audit starting in January.
“The audit should NOT be an option.”
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The only way that anyone can improve their performance is by gauging the result of their choices.
Without honest and accurate feedback, there can be no learning.
Imagine that no matter how poorly you performed, you were told; “you’re getting warmer”. How could you improve?
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It’s time to strip search our government and get back to the constitution.
I have been saying all along that Obama and his myrmidons are real dangerous. This guy has been a train wreck that keeps on crashing.
Somebody Impeach this MF.
Liberals are actually afraid that their merit will be measured by some objective standard. They would rather establish a new reality where integrity is the product of their good intentions, rather than the performance of their strategies.
The fully expect the American public to base their own opinions on the stories they plant in MSNBC. They smear everyone who questions their spin.
THEY ARE NOT TRYING TO MAKE THE AMERICAN SYSTEM FUNCTION BETTER. They are attempting to consolidate their control over the system. They want a virtual ‘one-party system’ if not a literal one. And they don’t care how much damage they do to achieve their ‘noble’ ends. The Americans who’s lives have been destroyed as a result of this failed experiment are Collateral Damage. They are “acceptable losses” to this group of fundamentalists.
No one can be as incompetent as they appear to be. There must be another explanation.
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Have no worry, I’m sure they will do a much better job of tracking obamacare expenses once they have another 1/6th of the economy to manage.
These are the same people who will be in charge of the Death panels and who gets what healthcare treatment. not to mention what will be served to our obese children .. Gosh I’m not worried in the least.. I hope to freaking hell we do not have another 9/11 on our hands cause these morons will get us all killed.
Butt they can maintain a perfect 9.6% unemployment rate for over a year.
BRILLIANT!
When our economy collapses and our water supply becomes poisoned we can blame the dems
“When our economy collapses and our water supply becomes poisoned we can blame the dems”
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Technically, no.
The Democratic party has been taken over by people who call themselves Liberal, but who have no concern whatsoever with the fate of the American republic. They support ‘International’ goals.
We should concern ourselves with liberating the Democratic party, the same way the allies liberated France in WWII. (The Democrats won’t appreciate the effort either, but that’s not really the point.)
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Oh, that’s rich. So they are no longer accountable because they apparently can’t handle keeping books?
I truly don’t know why we are standing by and allowing any of this to continue. They aren’t even trying to put any creativity into the BS anymore. Let’s hope we have enough conservative voices there next month to save us peacefully.
We’re BANKRUPT!
B-A-N-K-R-U-P-T!!!!!!! And the Treasury note acutions PROVE IT!
BUY GOLD!
BUY GUNS!!
BUY AMMO!!!!
We’re gonna NEED IT!
auctions
Now that O’buckwheat is looking for some street cred after his basketball fiasco, maybe it’s time that the average americans teach him the meaning of the oldschool rap tune “Bitch Betta Hav Mah Munny”.