(Opinion piece by Economics professor William Watson):
"Among the many millions of words he wrote, not all of them wrong, John Kenneth Galbraith once reflected on the carelessness great wealth permitted: If post-war Britain had been run on the same management principles that applied in post-war Washington, the empire would have been bankrupt in a week.
Scrolling through a report this week from the U.S. Government’s General Accountability Office, formerly the General Accounting Office, suggests Washington is still the same. (The change in the GAO’s title is cute. Accountability is politically sexier than accounting. But the thing about accountability is that it really can’t be general. Someone specific has to be responsible.)..."