Financial Services and General Government

The Government Accountability Office, or GAO, said it best when they described the federal government as quote - “one of the world’s largest and most complex entities.” 

I have said for years that we do a lot of talking in DC about how much we owe – and rightfully so, with the national debt continuing to climb – but we do not do a good job of talking about what we own. The U.S. government needs a clear balance sheet to fully understand both our costs and our assets, and I am hopeful that GAO can assist in that process. 

To help Congress and the executive branch manage the federal government’s operations, GAO created a High-Risk List. This list, which is updated every two years, identifies areas that are ripe for waste, fraud, abuse, and mismanagement, or areas that need to be fundamentally overhauled.