Bush's Budget Tricks Wouldn't Fly in Private Sector [View All]

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Newsday

Bush's Budget Tricks Wouldn't Fly in Private Sector

Charles V. Zehren

February 1, 2004


Lloyd Silverstein worked as a senior vice president of finance at Computer Associates International Inc. when federal prosecutors say the giant software maker created 35-day months to hit sales targets.

While he was there, the company booked $1 billion in revenue from anticipated contracts. This propped up CA's stock. Silverstein kept his job.

In Washington, President George W. Bush and the Republican-controlled Congress created a $400 billion Medicare prescription drug plan to hit political targets.

They didn't book upfront expenditures but quietly pushed the actual anticipated $2 trillion cost out to the year 2024. They did this to pump up their stock with the voters and keep their jobs.

Silverstein eventually got fired, pleaded guilty last week to lying to authorities and faces five years in prison and a $250,000 fine. The president and members of Congress keep their jobs, rake in millions in campaign contributions, and look forward to probable re-election.


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