What is the actual Financial condition of the United States?

The easiest way to determine this is to read the 172 page reprot that is compiled by the Secretary of the Treasury.

This report can be found here:
<http://www.fms.treas.gov/fr/06frusg/06frusg.pdf>

This report discusses the financies of The Federal Government as of the close of fiscal year 2006 (9/30/06).

The report is grim and shows that we have put our children, grand-children, and all future generations in a financial bind of record proportions...

Here are some highlights from the actual report:

1. For the TENTH consecutive year the Department of the Treasury has "disclaimed" an opinion on the overall financial statements of the US Government. This means that for ten years in a row the Department of The Treasury has not been able to verify the actual condition of the Government's fiannces. THIS SHOULD FRIGHTEN YOU.

2. The Federal Budget deficit for fiscal year 2006 was 247.7 billion dollars. In other words the government spent more then 247.7 billion dollars then it brought in. This money was borrowed and future generation will pay interest on this debt.

The rest of the report is equally enlightening...

The worst part of the report is the fact the The Federal Government itself agrees that the Federal Government has ABOUT 60 TRILLION dollars of unfunded liabilities...

Good grief...

What do you think?

Mike Sylvester