Saturday, October 09, 2010

Creative accounting

"It's not a lie if you believe it"—George Costanza in Seinfeld.

In the past I've heard the phrase "creative accounting," usually used to describe crooked corporate practices. Now the government of my state of California is getting very creative. This article makes the point well:

Two-thirds of the budget solutions expected to be signed soon by Gov. Arnold Schwarzenegger are based on one-time or temporary money ---- some of which may never materialize. The article later quotes a California Congressman as saying " It's full of false assumptions and failed gimmicks."

Wishful thinking or outright dishonesty? I'm going with the latter.

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