US gov can’t track its own budget

“David M. Walker, the Comptroller General of the United States and head of GAO…was not satisfied. In a speech today [December 17, 2007] at the National Press Club, he said, “If the federal government was a private corporation and the same report came out this morning, our stock would be dropping and there would be talk about whether the company’s management and directors needed a major shake-up.” Walker urged greater transparency and accountability over the federal government’s operations, financial condition, and fiscal outlook.” Some Progress on U.S. Government’s Financial Statements But Significant Problems Remain from YubaNet.
The GAO’s view: Major Management Challenges at the Department of the Treasury

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