From: "Walter Burien" <walterburien@cafr1.com> Subject: Re: Fwd: interesting state of affairs Date: Tue, June 23, 2009 8:35 am To: "Howard Spengler","Rep Cannon"
Howard and Ben:
It is time to get past rhetoric and blind conditioning saturating us all for the last several decades.
The issues:
1. What was the gross income return and standing balances from all investment funds held by local government in the State of Oregon?
Here the issue is not what is proprietary, general purpose, enterprise, or discreetly presented, the issue is what was accomplished each year over the last 15 years from all. Additionally, the use of the word "all" applies to every local government in Oregon and the State government accounts. To cut to the chase here, upon being done you will see that the liquid investment wealth held by all local governments in OR is greater than what is held by the "entire" private sector in OR. You will also see that the investment return was in most probability equal to or greater than all general purpose operating taxation collected.
2. Per those proprietary / fiduciary funds, the issue is not that they exist, but what are the guidelines for their existence and are they within true guidelines or is there false actuarial projections being used to inflate the balances and thus the power base created therefrom? Saying "Oh, those are fiduciary funds" does not cut the grade, true liability matched with fund balances after swept for false actuarial projected liability does. I will note those PERS accounts are strictly participatory, the local governments "own" the fund balances, the employees are just buying a ticket to ride from point "A" to point "B". There are so many examples I can give here where those balances were overinflated by a factor of 2X when at the same time the local government was saying after false projected actuarial liability was applied they were saying we are underfunded by a factor of .012X. And here is a very important question you must ask yourself: Why are not the retirement benefits not paid directly from the general purpose operating funds? Do the math! Look at what was paid each year (not projected) and compare it with the standing balances...
3. A TRF is designed just "as" a PERS account, in fact it will probably use the same management teams. The TRF is designed to pay "ongoing" budgetary needs "and" all retirement benefits if included to be paid also from the TRF. Get it? So whats the argument... We can benifit the government employees but not the taxpayer, they are to easy of a mark???
Bottom line? It is there to be done. The management structure is in place to get it done. The performance record from the management shows that it can be done. Why is it not being done? Greed, arrogance, and systemic corruption due to the "easy" take from the public.
So WHO DO YOU SERVE, yourself or the people that have been easy marks for way to long...???
Ask the in place PERS management teams can they do it? They will say yes.
Now all spoiled little brats from within local government will scream, holler, and kick when the thought of not being able to snatch out of mom and pops back pockets stacks of hundred dollar bills, but in the long run when the true leaders with the public's interests at heart get the job done, those spoiled little brats upon reflection will see they still are getting the same stacks of hundred dollar bills but this time from the TRF so they will stop their blind temper tantrums and smile also.
Walter - CAFR1.com PS: And Ben, hopefully you find "credence" in what was said above.
TREASON: "Treason doth never prosper; what's the reason? For if it prosper, none dare call it treason." Sir John Harrington, 1561-1612 ------------------------------ From: "Howard Spengler" Subject: Fwd: interesting state of affairs Date: Tue, June 23, 2009 7:15 am To: WalterBurien@cafr1.com Mr Burien, Any thoughts on this string of emails? ---------- Forwarded message ---------- From: "Rep Cannon - Oregon" Date: Mon, Jun 22, 2009 at 10:26 PM Subject: RE: interesting state of affairs To: "Howard Spengler" Hi Howard, I took a look at the materials and I have to admit that it's hard to give them much credence. The substantial amount of money "not being utilized" are assets like the PERS fund, the state college investment fund, and other fiduciary funds. Quoting from the CAFR: "Fiduciary funds account for resources held for the benefit of parties outside the government . . . These activities have been excluded from the State's government-wide financial statements because the State cannot use these assets to finance its operations." And for good reason: they're not the state's funds. I don't think that I'll ever convince you that I'm taking your ideas seriously enough, but we can go around and around on this, and in the end, we're not going to agree on the merits of CAFR and TRF. - ben ________________________________ From: "Howard Spengler" Sent: Friday, June 19, 2009 6:40 AM To: Rep Cannon Subject: Re: interesting state of affairs Ben, It is apparent that you have not taken the time to research anything I've sent you. You must review the information (or have one of your staff submit you a summery of the information that can be found at: www.CAFR1.com) to understand that the commonly accepted accounting practices can and do "hide" taxes. If you would have done a cursory look at the website and information that I sent, you would understand that there is a substantial amount of money that is not being used/allocated. Your systematic doubt about TRF shows that you are not willing to entertain ideas that may prove to be a workable solution to one of our "financial" problems. I challenge you to take a look (not just brush off) the information that I sent you about TRF. This idea is the right solution (notice I didn't say cure? wrong choice of words) to our local and Educational financial problems. (remember that TaxRetirement refers to the retirement of taxation for the funding of said budgets) Consider this a challenge: take 10 mins of your day and look over the ideas presented here: http://taxretirement.com/ it will only take 10 mins as it is a concise and small website. I look forward to your reply. On Thu, Jun 18, 2009 at 10:05 PM, "Rep Cannon" wrote: Howard, No problem. As for surplus funds - we've already tapped everything that there is to tap; I wish there really was a long-forgotten reserve fund that would solve all our fiscal troubles, but it just doesn't exist. Not sure what TRF is - but again, I am highly skeptical of anything described as a "cure". There are no cures for the situation we're in - only difficult choices in the short term, and hard work in the long term. - ben ________________________________ From: "Howard Spengler" Sent: Tuesday, June 02, 2009 11:29 AM To: Rep Cannon Subject: Re: interesting state of affairs Thanks for updating my subscription.The bank idea can not be looked at as a cure all - it is only one way of increasing our States success. "end the Fed" has merit.
Also, have you looked at the excess $$ that is noted in the States CAFR? if not, please see below: (look at the link for the Oregon 2003 Surplus and realize that almost 7 years has passed....
Also, did you have a chance to investigate the TRF information? This is a cure....and it does work. "You may want to just tell them (the people) in your letter to recommend that all in government and private parties carefully review the following per available revenue that can be redirected for a more relevant need: A 2003 surplus audit review of "just" the OR State CAFR - http://cafrman.com/Articles/Art-OR-S1.htm CAFR Surplus review program and review guide - http://cafr1.com/CAFRprograms.html State of Oregon 2008 CAFR - http://www.oregon.gov/DAS/SCD/SARS/docs/2008_CAFR.pdf City of Portland 2003 - 2008 CAFR - http://www.portlandonline.com/omf/index.cfm?c=26053 <http://cafrman.com/Articles/Art-OR-S1.htm> Now let us all look and qualify the scope, size, and wealth involved from within our own local governments!
This communication Sent FYI from, Walter Burien - CAFR1.com P. O. Box 2112 Saint Johns, Arizona 85936 Tel. (928) 458-5854 PS: Make the investment wealth of government directly benefit the people and taxation be gone! TRF now! ------------------------ Any local government can be restructured to meet their annual budget needs "Without" taxes. TRF (Tax Retirement Funds) paying for every City, County, State�s annual budgetary needs! ------------------------ To automatically subscribe to CAFR1 NATIONAL Posts - http://cafr1.com/phplist/?p=subscribe ------------------------ CAFR1 needs help in this corner: http://CAFR1.com/DNT.html ------------------------- BACK TO THE CAFR1 FRONT PAGE |