California Government Hides Billions From Taxpayers « REALITY BLOG - 0 views
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Clint-Richardson Bay-Area-Patriots California-Budget California-Debt-Deception
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Gary Edwards on 26 May 12This must read post from Clint Richardson is a Bay Area Patriots catch. Stunning stuff. Clint walks us through the CAFR - Comprehensive Annual Rinancial Report - for the State of California. Governor Moonbeam is claiming that the State has a $16 Trillion dollar debt, and he's threatening to shut down public education unless California citizens agree to massive tax hikes. Clint rips through the entire annual report discovering that Gov Moonbeam is not only lying, but that there is an official "debt increase" methodology in place to deceive citizens into voting for government seizure of their property and prosperity. Note also that this local-state-federal "debt bomb" methodology involves conversion of tax dollars into hard assets. Like property and productive assets. Awful, reprehensible stuff. Brace yourselves. excerpt: the Government is lying to you. It promotes debt and hides assets. This should not be construed as the only hidden wealth in the California State government… just the wealth we have uncovered today. And you must understand that this is only the State government's CAFR. Each County, city, district, and other local governments and pension funds have their own CAFR's with their own funds and hidden wealth - hidden in plain sight. Totals for Los Angeles, San Francisco, and other counties and municipalities in California will, when combined together, dwarf the investment wealth of the State government alone. They will tell you that some of these investments are restricted and not able to be used for taxpayer services. And as a taxpayer, that should really piss you off! They will also tell you that laws are in place that don't allow these funds to be transferred for other purposes other than what they are designated for. And yet Obama and State legislators continuously speak of raiding the pension funds for their own benefit. In their opinion, it's government's money after all, not the employees or the taxpayers. But of