CPAs Take Dim View of Nation’s Fiscal Health 

Published January 09, 2013

AdvisorOne, an online news site of Investment Advisor and Research magazine, reports that AICPA members “are over the edge about the nation’s fiscal cliff.” A survey of CPAs released [January 9] by the AICPA indicates that CPAs as a group regard the federal budget deficit as the nation’s top economic problem. The report noted that when asked about America’s current financial condition, Steven M. Frankiel, a Los Angeles-based CPA and AICPA member, took a sober view. “I would have to hope there is tremendous growth in the future to service the debt and the obligations that it has,” he told AdvisorOne. “It isn’t that we’re so in debt, we’ll never be able to work our way out of it. It’s just that, unless there’s growth, many other programs will be squeezed by interest on the debt and entitlements.”


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