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USA Today: Real FY2012 deficit is … $5 trillion

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Using the rules Congress sets for everyone else.


What would happen if Congress had to apply the regulations in Sarbanes-Oxley, Dodd-Frank, and other corporate accounting law to its own balance sheets?  Instead of talking about trillion-dollar deficits, USA Today reports from its analysis, we’d be talking about five times that amount: The typical American household would have paid nearly all of its income [...]

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