The U.S. government has been operating in a state of financial chaos for 26 years, with persistent weaknesses in internal controls over financial reporting. This is not a recent issue—it’s a lifestyle for Washington, one that’s resulted in severe mismanagement of taxpayer money. The General Accounting Office has openly admitted that, year after year, there have been “material weaknesses” in the internal controls.
Translation? The government’s been cooking its books for the entire century. The Department of Defense (DoD) has ongoing financial management problems, while federal agencies like the SBA and Department of Education have struggled to accurately report on loan programs, further magnifying the depth of the crisis. Worse yet, the General Accounting Office (GAO) can’t even offer a reliable opinion on the financial health of the government because of all the gaping holes in how the federal government handles its numbers.
But wait, it gets even worse. The government is so disorganized that the GAO has had to issue a “disclaimer of opinion”. Translation: they couldn’t even gather enough data to express any real opinion on the financial statements because of massive limitations in the records. When that happens, it’s not just a small issue; it’s an institutional collapse.
The problem? Federal agencies haven’t had individual itemized budgets since 1997. The last approved budget expired in 1998—meaning there’s been no financial oversight or control for over 26 years. If that doesn’t scream mismanagement, I don’t know what does.
Elon Musk recently warned that the U.S. is heading towards bankruptcy because of extreme government spending, and he’s absolutely right. Radical action is needed, or we’re done.
The government’s endless spending binge, without any control over how funds are allocated, spells disaster. We’re watching Washington implode from the inside, and it’s going to affect every single American unless something is done now.
Sources:
https://x.com/zerohedge/status/1891540074124206541
https://x.com/elonmusk/status/1891524134049316907
https://www.gao.gov/products/gao-25-108129