federal budget: Government Balance Sheet Part II - 03/02/16 04:02 PM
Yesterday, I wrote about the government balance sheet. You can read that blog post here.
The bottom line is that student loans make up more than 30% of our ASSETS. However, the General Accounting Office (GAO) issues a report card on various governmental agencies.
The Department of Defense, Department of Housing and Urban Development, and the Department of Agriculture are all singled out for their failure to prepare complete and accurate financial statements. This is corroborated by a report published last year stating that the Defense Department has somehow “misplaced” $8.5 trillion of taxpayer money over the last 20 years. WHOA!The GAO cites other material weaknesses in … (1 comments)

federal budget: Official Government Balance Sheet Just Released - 03/01/16 01:14 PM
The US government just published its audited financial statements a few days ago. They are signed by Treasury Secretary Jack Lew. These reports are intended provide an accurate accounting of government finances, just like any big corporation would do. If our government was a corporation, this report would be followed by SELL signals or  the Grade of F.The US government’s financial condition has declined significantly from the previous year. For 2015, the government reports $3.2 trillion in total assets. This includes everything from financial assets like bank balances to physical assets like tanks, bullets, aircraft carriers, and the federal highway system. Curiously, the single biggest line item … (5 comments)

federal budget: Another Federal Bailout...the FHA Needs (our) MONEY - 04/17/13 03:56 AM
Another Federal bailout...the FHA Needs (our) MONEY!!! It is a little early to know for certain, but it appears that the Federal Housing Administration (FHA) may need a $900+ million bailout.  The exact ami9unt will be clear at the end of the third quarter of this year. The reason for the bailout is that the FHA needs to “reinforce its capital reserves.” Apparently ,this information was buried in the details of the president’s proposed budget released that was recently released.  Shaun Donovan attempted to explain the FHA’s problems in the wake of public outcry over the dismissal projections for the FHA. … (7 comments)

Paddy Deighan MBA JD PhD, Paddy Deighan J.D. Ph.D (federalfinanciallawgroup.com)

Paddy Deighan MBA JD PhD

Paddy Deighan J.D. Ph.D

Vail, CO

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Author Bio: Paddy Deighan earned his Juris Doctorate and PhD Paddy consults with taxpayers in regard to tax liens, tax levies, tax levy, offer in compromise, tax debt, tax settlement

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