Fed Defends Creative Accounting For Auto Bailouts

The White House defended Tuesday its accounting of the government's $85 billion auto bailouts after a fact-checker accused the Obama administration of "misleading" the public.

White House communications director Dan Pfeiffer rebutted the Washington Post's analysis of recent comments on the auto bailouts that the newspaper headlined "President Obama's phony accounting on the auto industry bailout."

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HSCenterconsole - 6/8/2011 3:55:03 PM

+4 Boost

Why would Obama and his minions be honest about losing $14 billion in taxpayer funds on the auto bailout?

HSCenterconsole - 6/8/2011 4:22:47 PM

+1 Boost

If a company used this "creative" accounting on their annual reports to the SEC or their shareholders, both the accountants and the senior execs would most likely be heading to jail.

HSCenterconsole - 6/9/2011 1:08:46 PM

+1 Boost

He certainly isn't abiding by the War Powers Act by continuing to bomb Libya without Congressional approval.