American Institute of Certified Public Accountants endorse Ron Paul

1 01 2012

I am a member of the American Institute of CPA’s and also a member of the NJ Society of CPA’s nearly 20 years and listening to Dr. Paul’s economic idea’s and budget cut of One Trillion dollars, he is the only one standing out in the crowd. Currently we are 15,000,000,000,000 dollars in debt on paper plus there are a lot of off-balance sheet liabilities that we do not see. i.e. Future payments on Social Security, Future payments on medical costs, and many other future costs that we are aware of but can not determine an exact amount. (Check out USDebtclock.org to see the total Debt for the US and your home state) Why do we not report it? Well in the accounting field the balance sheet shows your situation at a specific point in time and can not accurately determine our true future liability so therefore it is left off the balance sheet and truthfully accountants know numbers and do not have crystal balls to see into the future to see if a future receivable becomes bad debt and if the amount calculated for the liability was understated materially.

Our country with the direction financially we are heading in, the taxpayers will eventually have every dollar taken from them to fulfill the debt obligation and still not have enough to pay off the debt. That is the road we are on and all of us need to get off this road and get on a road where our debt obligations can be satisfied or America will be getting a bail out because remember we are Too Big Too Fail.

His budget plan is the best one out there to get America back in the right direction so therefore since I am a member of the AICPA a member of the AICPA endorses Dr. Ron Paul and his budget plan for America.

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One response

1 01 2012
Dave

Well said Neil. When a first rate CPA tells us the economy is in trouble, I believe it is time more people should be listening to Neil Schloss.

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