Monday, April 10, 2006

Pro forma war numbers

It should be remembered that the costs of the Iraq war are being kept “off-budget” through the use of “emergency supplemental appropriations”, and so do not contribute to the officially reported totals for the budget deficit. The process is akin to the use of “pro forma numbers” by WorldCom and others to defraud billions from markets: a process that ended with the biggest bankruptcy in history.

4 comments:

Mary said...

Perhaps we could have Kocinich or Joseph Cirincione publish the military "emergency supplemental appropriation's total" next to the budget deficit as an official part of the budget report. Mary

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