Interesting read, explaining the ins and outs of governmental accounting tricks used to bamboozle us.

Interesting read, explaining the ins and outs of governmental accounting tricks used to bamboozle us.

Originally shared by Scott Hamilton (Dame Nilly Lunchalot)

This is an accounting trick, but it seems only students of government accounting rules can see it. People think that since the savings are being spent building up the fund, there won't be any net saving to the budget until after the $20 billion target has been reached.
http://www.smh.com.au/business/comment-and-analysis/medical-research-future-fund-how-the-trick-is-done-20141214-126rpw.html

Comments

  1. The real problem with future funds is that they seem to exist to be raided to fund future governments usually but not always from the other side who need a quick cash injection whilst feigning some moral objection.

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