This is an old story, but it is not as old as the USA.
Why are we not paying off the Federal Debt that will soon be $10 Trillion Dollars? Because there is no motivation for the US Congress and Senate to address it. The congress gets Kudos for spending money. Bigger Kudos go to congress when money is spent on the crisis of the day. The congress doesn' get paid, elected or recognized by interest groups, PACs, or lobbies for planning for this country's Future.
In Accounting in any country there are guiding principals that keep organization out of trouble with the Law. There are two kinds of Accounting laws. One is for all American Businesses and the second is for the US Federal Government.
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