Like you and me, only better
If the .gov was forced to hold itself to the same standards as, say, a CEO, it’d be fucked:
The largest employer in the world announced on Dec. 15 that it lost about $450 billion in fiscal 2006. Its auditor found that its financial statements were unreliable and that its controls were inadequate for the 10th straight year. On top of that, the entity’s total liabilities and unfunded commitments rose to about $50 trillion, up from $20 trillion in just six years.
If this announcement related to a private company, the news would have been on the front page of major newspapers. Unfortunately, such was not the case — even though the entity is the U.S. government.
And I find it funny this recent trend of the .gov to yammer on about unfunded retirement plans since it operates the biggest one ever created.
