MSM reports squarely on the deficit: Apocalypse at 11.

USAToday actually gave a straight report on how the government’s screwed-up accounting rules (which would land any actual accountant in jail overnight), make Enron look squeaky-clean by comparison.

Is the deficit $318 billion?  Or $3.5 trillion?  With a “t” in it?

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4 Comments

  1. Bravo — I’ve been carping on this one for some time. A couple hundred dozen more of these articles and maybe we can get an election-issue out of it.

    Reply
  2. All you need is a party change, and this could go through easy.
    Useless but effective rhetorical broadside…

    Reply
  3. Again, wtf. Nothing against you ‘crow but this is ancient f*cking news and the article is BADLY misleading. There are real reasons why the government doesn’t use accrual accounting.

    I’m not saying they shouldn’t but the article is ridiculous.. It switches back and forth between yearly/quarterly deficits and total deficits without a blink or an explanation.

    The issue is much more complicated than this. This is why I despise USA Today.

    Reply
  4. Of course it’s old news: it’s the MSM. But it’s a mention in a regular newspaper of an old and serious problem.

    First time I’ve seen it in a non-finance-oriented daily.

    Reply

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