Honesty In Numbers

The FASAB wants politicians to fess up how much our entitlements are really costing us. Not a bad idea, especially considering that any business that kept books like the government would have long ago been the target of multiple accounting investigations.

The FASAB is made up of six independent members who support the proposal and three opposing members from the U.S. Treasury, the White House Office of Management and Budget and the Government Accountability Office.

Progress will never be made on entitlements as long as their true cost is hidden in the political game of he said/she said where voters are only going to believe the guy with the right letter after his name. Telling taxpayers how much they are on the hook for is bound to be an eye opener for many.

Is anyone suprised that the only dissenters are the ones from the political branches of government?

More thoughts at Coyote Blog and Marginal Revolution

Tags: politics, social security, medicare, economics