U.S. Govt. Off Balance Sheet Financing (a lesson from Enron)

According to the AIER, iIn 1974 Congress passed the Budget Act requiring them and the President to follow strict procedures to control expected public spending. The OMB defined "emergency Spending" designed to evade customary appropriations must meet specific criteria. For example, It must be Vital; Sudden; Urgent; Unforeseen; and Non-recurring. During the years 2001-2006, Emergency Spending was $482 Billion, or nine times more than that appropriated during 1995-2000, e.g., $55 billion. Since the Recovery and Response to Terrorism Act of Sept. 18, 2001, "emergency spending" skyrocketed to avoid public scrutiny of regular spending bills including statutory obligations to consider their priority. It is now 5 years since 9/11/2001 and the Terrorism Act of 9/18/2001, and the war on terrorism has been underway ever since and is hardly unforeseen, sudden or non-recurring. Troops have been in Iraq since 2003 ans till the congress and administration pretend that these expenditures are unexpected and outside the regulated budgetary process. In 2006, Total emergency Spending was $94.5 billion of which $71 billion was for the "Global War on Terror." The only reason to pay for the curent conflicts with "Emergency Spending" is to avoid the statutory oversight and political discomfort of public scrutiny.

Turn these politicians out of office and reinstall true and honorable guardians of the public trust.