The Government Accountability Office said on Friday that the federal government is on an “unsustainable fiscal path,” and that it could not determine whether the federal government’s consolidated financial statements are reliable.
Accounting problems with the Defense Department, Education Department, and other agencies have all contributed to the financial problems, according to the GAO. The office was unable to properly evaluate the financial reliability of the federal government as the national debt continues to balloon and deficit spending remains high.
“Congress and the Administration need reliable and complete financial information, within each agency and across the government as a whole, to govern effectively and efficiently,” said Gene Dodaro, the comptroller general of the United States and head of the GAO.
“Also, the federal government continues to operate on an…
