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Deficit Reduction Versus Job Creation: A Delicate Balancing Act, Editorial, Message from the Editor-in-Chief, financial crisis, government, Kranacher&lt;br /&gt; &lt;br /&gt; &lt;br /&gt; EDITORIAL&lt;br /&gt; &lt;br /&gt; a message from the editor-in-chief&lt;br /&gt; &lt;br /&gt; &lt;br /&gt; &lt;br /&gt; Deficit Reduction&lt;br /&gt; Versus Job Creation&lt;br /&gt; &lt;br /&gt; A Delicate Balancing Act&lt;br /&gt; &lt;br /&gt; &lt;br /&gt; &lt;br /&gt; &lt;br /&gt; T&lt;br /&gt; he continuing financial crisis is exact-&lt;br /&gt; ing an enormous price: Poverty is&lt;br /&gt; rising in the United States, unem-&lt;br /&gt; ployment remains high, and consumer con-&lt;br /&gt; fidence is in freefall as we watch our elect-&lt;br /&gt; ed leaders engage in dysfunctional political&lt;br /&gt; tactics that have brought our democracy, and&lt;br /&gt; our economy, to its knees. This doesn't bode&lt;br /&gt; well for our<a title="The CPA Journal - October 2011 page 1" href="http://viewer.zmags.com/publication/261bb12d?page=1">A Value-Added Tax for America?</a> A Value-Added Tax for America?<a title="The CPA Journal - October 2011 page 2" href="http://viewer.zmags.com/publication/261bb12d?page=2"></a> <a title="The CPA Journal - October 2011 page 3" href="http://viewer.zmags.com/publication/261bb12d?page=3"></a> <a title="The CPA Journal - October 2011 page 4" href="http://viewer.zmags.com/publication/261bb12d?page=4">CONTENTSoctober 2011</a> CONTENTSoctober 2011<a title="The CPA Journal - October 2011 page 5" href="http://viewer.zmags.com/publication/261bb12d?page=5">vol. LXXXI/no. 106PERSPECTIVES14IN F</a> vol. LXXXI/no. 106PERSPECTIVES14IN F<a title="The CPA Journal - October 2011 page 6" href="http://viewer.zmags.com/publication/261bb12d?page=6"> PublisherJOANNE S. BARRY </a> PublisherJOANNE S. BARRY <a title="The CPA Journal - October 2011 page 7" href="http://viewer.zmags.com/publication/261bb12d?page=7"></a> <a title="The CPA Journal - October 2011 page 8" href="http://viewer.zmags.com/publication/261bb12d?page=8">In Defense of Stewardship, perspectives, standard </a> In Defense of Stewardship, perspectives, standard <a title="The CPA Journal - October 2011 page 9" href="http://viewer.zmags.com/publication/261bb12d?page=9">Defending Accounting Malpractice Claims, perspecti</a> Defending Accounting Malpractice Claims, perspecti<a title="The CPA Journal - October 2011 page 10" href="http://viewer.zmags.com/publication/261bb12d?page=10">Defending Accounting Malpractice Claims, perspecti</a> Defending Accounting Malpractice Claims, perspecti<a title="The CPA Journal - October 2011 page 11" href="http://viewer.zmags.com/publication/261bb12d?page=11">Defending Accounting Malpractice Claims, perspecti</a> Defending Accounting Malpractice Claims, perspecti<a title="The CPA Journal - October 2011 page 12" href="http://viewer.zmags.com/publication/261bb12d?page=12">Defending Accounting Malpractice Claims, perspecti</a> Defending Accounting Malpractice Claims, perspecti<a title="The CPA Journal - October 2011 page 13" href="http://viewer.zmags.com/publication/261bb12d?page=13">A Case for Raising the Normal Retirement Age, pers</a> A Case for Raising the Normal Retirement Age, pers<a title="The CPA Journal - October 2011 page 14" href="http://viewer.zmags.com/publication/261bb12d?page=14">A Case for Raising the Normal Retirement Age, pers</a> A Case for Raising the Normal Retirement Age, pers<a title="The CPA Journal - October 2011 page 15" href="http://viewer.zmags.com/publication/261bb12d?page=15">A Case for Raising the Normal Retirement Age, pers</a> A Case for Raising the Normal Retirement Age, pers<a title="The CPA Journal - October 2011 page 16" href="http://viewer.zmags.com/publication/261bb12d?page=16">A Value-Added Tax for America?, In Focus, budget d</a> A Value-Added Tax for America?, In Focus, budget d<a title="The CPA Journal - October 2011 page 17" href="http://viewer.zmags.com/publication/261bb12d?page=17">A Value-Added Tax for America?, In Focus, budget d</a> A Value-Added Tax for America?, In Focus, budget d<a title="The CPA Journal - October 2011 page 18" href="http://viewer.zmags.com/publication/261bb12d?page=18">A Value-Added Tax for America?, In Focus, budget d</a> A Value-Added Tax for America?, In Focus, budget d<a title="The CPA Journal - October 2011 page 19" href="http://viewer.zmags.com/publication/261bb12d?page=19">A Value-Added Tax for America?, In Focus, budget d</a> A Value-Added Tax for America?, In Focus, budget d<a title="The CPA Journal - October 2011 page 20" href="http://viewer.zmags.com/publication/261bb12d?page=20">A Value-Added Tax for America?, In Focus, budget d</a> A Value-Added Tax for America?, In Focus, budget d<a title="The CPA Journal - October 2011 page 21" href="http://viewer.zmags.com/publication/261bb12d?page=21">A Value-Added Tax for America?, In Focus, budget d</a> A Value-Added Tax for America?, In Focus, budget d<a title="The CPA Journal - October 2011 page 22" href="http://viewer.zmags.com/publication/261bb12d?page=22">A Value-Added Tax for America?, In Focus, budget d</a> A Value-Added Tax for America?, In Focus, budget d<a title="The CPA Journal - October 2011 page 23" href="http://viewer.zmags.com/publication/261bb12d?page=23">A Value-Added Tax for America?, In Focus, budget d</a> A Value-Added Tax for America?, In Focus, budget d<a title="The CPA Journal - October 2011 page 24" href="http://viewer.zmags.com/publication/261bb12d?page=24">A Value-Added Tax for America?, In Focus, budget d</a> A Value-Added Tax for America?, In Focus, budget d<a title="The CPA Journal - October 2011 page 25" href="http://viewer.zmags.com/publication/261bb12d?page=25">A Value-Added Tax for America?, In Focus, budget d</a> A Value-Added Tax for America?, In Focus, budget d<a title="The CPA Journal - October 2011 page 26" href="http://viewer.zmags.com/publication/261bb12d?page=26">Accounting for Servicing Assets: A Reporting Chall</a> Accounting for Servicing Assets: A Reporting Chall<a title="The CPA Journal - October 2011 page 27" href="http://viewer.zmags.com/publication/261bb12d?page=27">Accounting for Servicing Assets: A Reporting Chall</a> Accounting for Servicing Assets: A Reporting Chall<a title="The CPA Journal - October 2011 page 28" href="http://viewer.zmags.com/publication/261bb12d?page=28">Accounting for Servicing Assets: A Reporting Chall</a> Accounting for Servicing Assets: A Reporting Chall<a title="The CPA Journal - October 2011 page 29" href="http://viewer.zmags.com/publication/261bb12d?page=29"></a> <a title="The CPA Journal - October 2011 page 30" href="http://viewer.zmags.com/publication/261bb12d?page=30">Accounting for Servicing Assets: A Reporting Chall</a> Accounting for Servicing Assets: A Reporting Chall<a title="The CPA Journal - October 2011 page 31" href="http://viewer.zmags.com/publication/261bb12d?page=31">Accounting for Servicing Assets: A Reporting Chall</a> Accounting for Servicing Assets: A Reporting Chall<a title="The CPA Journal - October 2011 page 32" href="http://viewer.zmags.com/publication/261bb12d?page=32">Statement of Net Assets or Net Position?: A Change</a> Statement of Net Assets or Net Position?: A Change<a title="The CPA Journal - October 2011 page 33" href="http://viewer.zmags.com/publication/261bb12d?page=33">Statement of Net Assets or Net Position?: A Change</a> Statement of Net Assets or Net Position?: A Change<a title="The CPA Journal - October 2011 page 34" href="http://viewer.zmags.com/publication/261bb12d?page=34">Statement of Net Assets or Net Position?: A Change</a> Statement of Net Assets or Net Position?: A Change<a title="The CPA Journal - October 2011 page 35" href="http://viewer.zmags.com/publication/261bb12d?page=35"></a> <a title="The CPA Journal - October 2011 page 36" href="http://viewer.zmags.com/publication/261bb12d?page=36">The Research Credit: Valuable but Often Overlooked</a> The Research Credit: Valuable but Often Overlooked<a title="The CPA Journal - October 2011 page 37" href="http://viewer.zmags.com/publication/261bb12d?page=37">The Research Credit: Valuable but Often Overlooked</a> The Research Credit: Valuable but Often Overlooked<a title="The CPA Journal - October 2011 page 38" href="http://viewer.zmags.com/publication/261bb12d?page=38">The Research Credit: Valuable but Often Overlooked</a> The Research Credit: Valuable but Often Overlooked<a title="The CPA Journal - October 2011 page 39" href="http://viewer.zmags.com/publication/261bb12d?page=39">The Research Credit: Valuable but Often Overlooked</a> The Research Credit: Valuable but Often Overlooked<a title="The CPA Journal - October 2011 page 40" href="http://viewer.zmags.com/publication/261bb12d?page=40">The Research Credit: Valuable but Often Overlooked</a> The Research Credit: Valuable but Often Overlooked<a title="The CPA Journal - October 2011 page 41" href="http://viewer.zmags.com/publication/261bb12d?page=41">The Research Credit: Valuable but Often Overlooked</a> The Research Credit: Valuable but Often Overlooked<a title="The CPA Journal - October 2011 page 42" href="http://viewer.zmags.com/publication/261bb12d?page=42">The Research Credit: Valuable but Often Overlooked</a> The Research Credit: Valuable but Often Overlooked<a title="The CPA Journal - October 2011 page 43" href="http://viewer.zmags.com/publication/261bb12d?page=43">The Research Credit: Valuable but Often Overlooked</a> The Research Credit: Valuable but Often Overlooked<a title="The CPA Journal - October 2011 page 44" href="http://viewer.zmags.com/publication/261bb12d?page=44">Clarifying Head of Household Issues, taxation, fed</a> Clarifying Head of Household Issues, taxation, fed<a title="The CPA Journal - October 2011 page 45" href="http://viewer.zmags.com/publication/261bb12d?page=45">Clarifying Head of Household Issues, taxation, fed</a> Clarifying Head of Household Issues, taxation, fed<a title="The CPA Journal - October 2011 page 46" href="http://viewer.zmags.com/publication/261bb12d?page=46">Clarifying Head of Household Issues, taxation, fed</a> Clarifying Head of Household Issues, taxation, fed<a title="The CPA Journal - October 2011 page 47" href="http://viewer.zmags.com/publication/261bb12d?page=47">Clarifying Head of Household Issues, taxation, fed</a> Clarifying Head of Household Issues, taxation, fed<a title="The CPA Journal - October 2011 page 48" href="http://viewer.zmags.com/publication/261bb12d?page=48">Clarifying Head of Household Issues, taxation, fed</a> Clarifying Head of Household Issues, taxation, fed<a title="The CPA Journal - October 2011 page 49" href="http://viewer.zmags.com/publication/261bb12d?page=49"></a> <a title="The CPA Journal - October 2011 page 50" href="http://viewer.zmags.com/publication/261bb12d?page=50">Tax Benefits for Higher Education: A Planning Tool</a> Tax Benefits for Higher Education: A Planning Tool<a title="The CPA Journal - October 2011 page 51" href="http://viewer.zmags.com/publication/261bb12d?page=51">Tax Benefits for Higher Education: A Planning Tool</a> Tax Benefits for Higher Education: A Planning Tool<a title="The CPA Journal - October 2011 page 52" href="http://viewer.zmags.com/publication/261bb12d?page=52">Tax Benefits for Higher Education: A Planning Tool</a> Tax Benefits for Higher Education: A Planning Tool<a title="The CPA Journal - October 2011 page 53" href="http://viewer.zmags.com/publication/261bb12d?page=53">Tax Benefits for Higher Education: A Planning Tool</a> Tax Benefits for Higher Education: A Planning Tool<a title="The CPA Journal - October 2011 page 54" href="http://viewer.zmags.com/publication/261bb12d?page=54">Tax Benefits for Higher Education: A Planning Tool</a> Tax Benefits for Higher Education: A Planning Tool<a title="The CPA Journal - October 2011 page 55" href="http://viewer.zmags.com/publication/261bb12d?page=55">Tax Benefits for Higher Education: A Planning Tool</a> Tax Benefits for Higher Education: A Planning Tool<a title="The CPA Journal - October 2011 page 56" href="http://viewer.zmags.com/publication/261bb12d?page=56">Rethinking the Purchase of Malpractice Self-Insura</a> Rethinking the Purchase of Malpractice Self-Insura<a title="The CPA Journal - October 2011 page 57" href="http://viewer.zmags.com/publication/261bb12d?page=57">Rethinking the Purchase of Malpractice Self-Insura</a> Rethinking the Purchase of Malpractice Self-Insura<a title="The CPA Journal - October 2011 page 58" href="http://viewer.zmags.com/publication/261bb12d?page=58">Rethinking the Purchase of Malpractice Self-Insura</a> Rethinking the Purchase of Malpractice Self-Insura<a title="The CPA Journal - October 2011 page 59" href="http://viewer.zmags.com/publication/261bb12d?page=59"></a> <a title="The CPA Journal - October 2011 page 60" href="http://viewer.zmags.com/publication/261bb12d?page=60">Rethinking the Purchase of Malpractice Self-Insura</a> Rethinking the Purchase of Malpractice Self-Insura<a title="The CPA Journal - October 2011 page 61" href="http://viewer.zmags.com/publication/261bb12d?page=61">Rethinking the Purchase of Malpractice Self-Insura</a> Rethinking the Purchase of Malpractice Self-Insura<a title="The CPA Journal - October 2011 page 62" href="http://viewer.zmags.com/publication/261bb12d?page=62">Rethinking the Purchase of Malpractice Self-Insura</a> Rethinking the Purchase of Malpractice Self-Insura<a title="The CPA Journal - October 2011 page 63" href="http://viewer.zmags.com/publication/261bb12d?page=63">OCTOBER 2011 / THE CPA JOURNAL </a> OCTOBER 2011 / THE CPA JOURNAL <a title="The CPA Journal - October 2011 page 64" href="http://viewer.zmags.com/publication/261bb12d?page=64">Protecting Small Businesses from Fraud: Simple Con</a> Protecting Small Businesses from Fraud: Simple Con<a title="The CPA Journal - October 2011 page 65" href="http://viewer.zmags.com/publication/261bb12d?page=65">Protecting Small Businesses from Fraud: Simple Con</a> Protecting Small Businesses from Fraud: Simple Con<a title="The CPA Journal - October 2011 page 66" href="http://viewer.zmags.com/publication/261bb12d?page=66">Protecting Small Businesses from Fraud: Simple Con</a> Protecting Small Businesses from Fraud: Simple Con<a title="The CPA Journal - October 2011 page 67" href="http://viewer.zmags.com/publication/261bb12d?page=67">Protecting Small Businesses from Fraud: Simple Con</a> Protecting Small Businesses from Fraud: Simple Con<a title="The CPA Journal - October 2011 page 68" href="http://viewer.zmags.com/publication/261bb12d?page=68">Protecting Small Businesses from Fraud: Simple Con</a> Protecting Small Businesses from Fraud: Simple Con<a title="The CPA Journal - October 2011 page 69" href="http://viewer.zmags.com/publication/261bb12d?page=69">Protecting Small Businesses from Fraud: Simple Con</a> Protecting Small Businesses from Fraud: Simple Con<a title="The CPA Journal - October 2011 page 70" href="http://viewer.zmags.com/publication/261bb12d?page=70">New Guidance for Cloud-Based Service Control Repor</a> New Guidance for Cloud-Based Service Control Repor<a title="The CPA Journal - October 2011 page 71" href="http://viewer.zmags.com/publication/261bb12d?page=71">New Guidance for Cloud-Based Service Control Repor</a> New Guidance for Cloud-Based Service Control Repor<a title="The CPA Journal - October 2011 page 72" href="http://viewer.zmags.com/publication/261bb12d?page=72">New Guidance for Cloud-Based Service Control Repor</a> New Guidance for Cloud-Based Service Control Repor<a title="The CPA Journal - October 2011 page 73" href="http://viewer.zmags.com/publication/261bb12d?page=73">New Guidance for Cloud-Based Service Control Repor</a> New Guidance for Cloud-Based Service Control Repor<a title="The CPA Journal - October 2011 page 74" href="http://viewer.zmags.com/publication/261bb12d?page=74">Website of the Month, U.S. Government Accountabili</a> Website of the Month, U.S. Government Accountabili<a title="The CPA Journal - October 2011 page 75" href="http://viewer.zmags.com/publication/261bb12d?page=75">Website of the Month, U.S. Government Accountabili</a> Website of the Month, U.S. Government Accountabili<a title="The CPA Journal - October 2011 page 76" href="http://viewer.zmags.com/publication/261bb12d?page=76">CLASSIFIEDMARKETPLACEPROFESSIONAL OPPORTUNITY l </a> CLASSIFIEDMARKETPLACEPROFESSIONAL OPPORTUNITY l <a title="The CPA Journal - October 2011 page 77" href="http://viewer.zmags.com/publication/261bb12d?page=77">CPA FIRMS OR PARTNERSWe represent a number of </a> CPA FIRMS OR PARTNERSWe represent a number of <a title="The CPA Journal - October 2011 page 78" href="http://viewer.zmags.com/publication/261bb12d?page=78">Accountant &ndash; Manager/SupervisorGrowing medium-si</a> Accountant &ndash; Manager/SupervisorGrowing medium-si<a title="The CPA Journal - October 2011 page 79" href="http://viewer.zmags.com/publication/261bb12d?page=79"> Peer ReviewIf you need help, the</a> Peer ReviewIf you need help, the<a title="The CPA Journal - October 2011 page 80" href="http://viewer.zmags.com/publication/261bb12d?page=80"> </a> <a title="The CPA Journal - October 2011 page 81" href="http://viewer.zmags.com/publication/261bb12d?page=81">ECONOMIC &amp; MARKET DATAmonthly up</a> ECONOMIC &amp; MARKET DATAmonthly up<a title="The CPA Journal - October 2011 page 82" href="http://viewer.zmags.com/publication/261bb12d?page=82">Deficit Reduction Versus Job Creation: A Delicate </a> Deficit Reduction Versus Job Creation: A Delicate <a title="The CPA Journal - October 2011 page 83" href="http://viewer.zmags.com/publication/261bb12d?page=83"></a> <a title="The CPA Journal - October 2011 page 84" href="http://viewer.zmags.com/publication/261bb12d?page=84"></a>