Off Balance Sheet, Out of Mind

Gold Speculator by Chris Wood | Aug. 4, 2009 (Opinion)

The U.S Treasury's Financial Management Service recently released its monthly Statement of Receipts and Outlays for the United States Government.

For the first time ever, the Treasury reported a deficit above $1 trillion -- $1.086 trillion, and that’s with three big-spending months left to go in the current fiscal year.
To put things in perspective, the reported federal deficit for all of 2008 was $455 billion. At the time, that was a ... Full Story »

Posted by Fabrice Florin

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Fabrice Florin
3.6
 by Fabrice Florin - Aug. 5, 2009

Interesting observations about the U.S. Treasury's recent report of a $1 trillion deficit for the first 9 months of this fiscal year. The author makes a reasonable case that government financials would be more accurate if it used an accrual method, rather than its current cash accounting method - as commonly done for large companies. It would be helpful if this article presented opposing viewpoints on this issue, to provide more context.

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