COMMENTS FROM THE CHAT ROOM OF: The Daily Reckoning - 12/17/07
Comprehensive US Financial Statements
My, my, my..... I read the world is flat over and over again:
Below is a comprehensive showing of State CAFRs
The CAFR IS NOT just to get a bond rating. That is like saying a finger is the whole function of the human body. (Well in NJ sometimes it is)
The CAFR is the Annual Financial Report of local government just "like" a company as AT&T or Microsoft would have. It shows the Gross Income from all sources, which by the way when you look at most large entities only 1/3rd of the gross comes in from tax income, 2/3rds is non-tax income from return on investment funds and enterprise ventures.
This is why you never hear the CAFR mentioned from any political side, News Media side, education side even though it's creation for government dates back to 1946 and became the standard for "ALL" local governments in 1978.
The reality of why you do not hear a peep and people comment on the CAFR as if it is a finger when it "is the whole body", is DUE TO THE MONEY AND POWER INVOLVED!!! Big money!
I was glad to see it brought forward in your chat that there are 88,000 + CAFRs
Gross income from all Local and the Feds as of 2007 is about 11.2 trillion dollars. In 1998 it was 8.5 trillion dollars. You now know why Gorbachev went democratic, US Government had a better blueprint for control and ownership and they had it down pact on how to entertain the public where they would not have a clue. I am not pointing fingers at any of the comments earlier in this post, but then our government has a lock on schooling the minnows to think red is green and bad is good, etc..
What I say here is fact. The government boys will jolt from these word like a stuck pig. Per looking at and then comprehending what is disclosed in the CAFRs, it is if as you had the record report on a drug dealer fronting as a social services halfway house, on who his clients are; how much money he is bringing in, and what he is doing with it.
Download, Look and learn!
Federal is in the above directory also. Make sure you download a few Government Pension fund CAFRs also.
Now if you what to see an auditors reviews of a few CAFR reports giving page and line number identification of potential surpluses, go to http://CAFRMan.com and then click on the reviews on the left of the page. When you get to the review you select, scroll 2/3rds down the page and you will see the line item review...
I note that each review is for that State CAFR only. If all other local governments from within the state were included, the figures would be substantially larger. Gerald Klatt, CAFRMan.com was from Arizona, so he did do the County and City reviews for Arizona. They can be seen on his front page at the bottom of the list on the left.
Smile Comrade, its not to late to see the house you have been living in all along once you take the blinders off and look. You were not intended to look, that is why never a peep. They are to busy counting, investing, and spending the money they have taken from you. The wall put up in your way is massive and what is at stake is much greater than you ever possible could have imagined!
But then that is why you have been so masterfully entertained, so the boys could continue to conduct business as usual as they stuffed stacks of hundred dollar bills in their pockets as they were laughing all the way to the bank for the last sixty years..
As the saying does; "Don't turn your back and look the other way, shoot a wolf in the chicken coop today!"
Last note; Google is your friend. To find CAFRs for your local government, say; North Hollywood, in the search line put: "North Hollywood" CAFR
It may just pop up. Also, try a Google images search and just list the name of your state. The covers from local government CAFRs will pop up and you might just see government operations you never knew existed before or didn't think to look at in your state.
PS: If anyone would like to start a new thread with my comments above, please do so..
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