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If the government doesn't know how much it spends or how much it owes, how can it know anything?

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When an accountant prepares a balance sheet for a company, the purpose is to measure the firm's actual financial health, as opposed to the fantasies pushed by the public relations department gnomes. Sales may be up 10 percent, but that doesn't mean much if the company is swimming in debt, operational expenses are out of control and the bank says forget about getting more credit. That's pretty...

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