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Bogus Budgets

March 14, 2011

This fascinating TED talk, starring the ever-eloquent Bill Gates, is a sobering look at state budgets and the trends we should expect to see for the next few years. In a way, I’m glad the budget crises across the nation are forcing us to re-evaluate the role we want government to have in our lives. The kinds of retrenchments individual consumers and businesses have been forced to make over the last 3-4 years are finally being discussed in government contexts. We must choose what we want our governments to provide, and some sacrifices must be made by all. As an accountant, I’m surely biased towards the importance of my own field, but I don’t think it would hurt anyone to educate themselves a little better about what financial data really mean. In order to move forward in the right direction, we must first understand where we are now, and unfortunately, governments at all levels have manipulated financial reporting in order to obscure the actual reality. End rant.

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