According to estimates from the Congressional Budget Office, the government will once again run deficits that exceed $1 trillion in 2012, this time reaching $1.1 trillion. The economic future of this nation is “uncertain”, at best.
“CBO expects the economic recovery to continue at a modest pace for the remainder of calendar year 2012, with real (inflation-adjusted) GDP growing at an annual rate of about 2¼ percent in the second half of the year, compared with a rate of about 1¾ percent in the first half.”
Reported by a CBS affiliate television station in Washington D.C., the federal government apparently cannot account for a whopping $30 million in taxpayer-paid bonuses in fiscal year 2011, proving once again that our federal government is neither prepared nor responsible enough to manage virtually any amount of money.
According to the CBS affiliate, the General Services Administration reported only 1/3rd of its actual bonus payouts and did not respond to interview requests. They did issue a statement that indicated the GSA will look into the matter and how the agency manages compensation – but who actually believes that?