Tax Guru-Ker$tetter Letter

Thursday, August 01, 2002

Government Accounting Standards

With the media and our rulers in DC piling on the story of creative accounting in the private corporate sector, it is important to put it into perspective. No corporation has been doing anything even closely approaching the insane accounting that has been routinely done by the people who control our lives in DC. Likewise, no corporation can possibly affect nearly as many people as the Imperial Federal Government does.

FoxNews has another good piece with some examples of how corrupt and incompetent the accountants are in DC, who handle trillions of dollars of our money every year. How soon do you think it will be before any of those responsible for these accounting frauds are paraded before the cameras in handcuffs, as are corporate executives? How about never? In fact, instead of prison time, which would be the fate of anyone in the private sector doing what our rulers do every day, our masters in DC will continue to receive raises and be re-elected forever.

KMK
- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 8/01/2002 11:36:00 AM Send this post: