Fiscal Responsibility Index from David Walker
I received this email today from David Walker. Interesting in light of the recent federal government shutdown crisis:
After months of hard work in partnership with graduate students from Stanford University, the Comeback America Initiative released its first formal product on March 23 at the National Press Club in Washington, DC: a new fiscal indicator called the Sovereign Fiscal Responsibility Index (SFRI). The SFRI uses a wide range of fiscal, economic and political factors to measure a country’s fiscal responsibility and sustainability. Out of the 34 countries we analyzed, where do you think the United States falls in the rankings?
Here’s a hint: We rank far below countries like Sweden, Australia, India, Brazil, and China. And we’re just barely a notch above countries recently in the headlines for their debilitating fiscal problems, such as Greece and Ireland. It turns out that we rank an embarrassing 28 out of the 34 countries analyzed with respect to the Sovereign Fiscal Responsibility Index. (Australia is #1, and Greece is #34). For a country as strong and respected as the United States, this is simply unacceptable. Major news outlets across the country and the world, including The Wall Street Journal and Agence-France Press, have seized on our findings; now we need our government to get involved.
To view the full list of rankings and find out more about the SFRI, please visit www.tcaii.org. Sign up on our mailing list, and encourage others to do so as well.
Our nation’s leaders claim they’re putting the country back on track with what they call significant spending cuts in the coming years. But in reality, the Titanic is sinking and Congress is arguing over the bar tab. It’s time for us to come up with real fiscal solutions – and you can help by keeping yourselves informed, sharing your knowledge with others, and contacting your local representatives.
All the best,
Governmental auditors unite! Leita Hart-Fanta, CPA, CGFM, and CGAP is the author of “The Yellow Book Interpreted” and owner of Yellowbook-CPE.com a website devoted to training for governmental auditors. Whether you are an internal auditor or monitor for a government entity or a CPA doing grant audits, you will enjoy Leita’s humorous take on the complexity of auditing in the government environment.