Here's one truly bi-partisan outcome for which everyone seems to want to take credit: the alleged reduction of the budget deficit. At CNN Money, senior editor Allen Sloan takes D.C. to task over the creative accounting techniques that would land most executives in jail.
(Fortune Magazine) -- There will be lots of celebrating in Washington next month when the Treasury announces that the federal budget deficit for fiscal 2007, which ends September 30, will have dropped to a mere $158 billion, give or take a few bucks.
...But I have a nasty little secret for you, folks. If you use realistic numbers rather than what I call WAAP - Washington Accepted Accounting Principles - the real federal deficit for the current fiscal year is more than 2-1/2 times the stated deficit.
It should be interesting to see how Gabby Giffords presents the numbers in next year's election when she reports how well she "returned [congress] to fiscal responsibility."