Thursday, 27 June 2002

Telling it like it is

From the always excellent Gary North, the best commentary on the guys at WorldCom:
Who did they think they were, Social Security Trust Fund administrators, where a $20 trillion unfunded liability is never put on the official accounting books, where the "trust fund" is filled with unmarketable government bonds, where a $100 billion annual increase in the liability (cash accounting, not accrual) to future retirees in what is called an off-budget government program is counted as income in the government's on-budget accounts, and is used to reduce the official debt in the Federal budget? The government must bring these miscreants to justice!