CAFR resource book: Govt 1% lie, hide surplus trillions from 99%

CAFR resource book: Govt 1% lie, hide surplus trillions from 99%

WashingtonsBlog
Posted on December 2, 2012 by Carl Herman

This 83-page resource documents that government Comprehensive Annual Financial Reports (CAFR) show taxpayers have trillions of dollars in surplus accounts.

Although California is highlighted, similar facts exist for every state.

The importance of this information is that trillions of surplus taxpayer dollars in California thoroughly refute government claims of “forced austerity” from a $16 billion budget deficit. This means that all state programs could be abundantly funded.

Importantly, massive government fraud is proved by comparing official rhetoric to CAFR data. The central government claim is that investment funds pay for retirement costs of public employees. CAFR data show California’s 2011 $27 billion retirement cost received only $1 billion net from a total of $600 billion in state surplus assets (pages 3-6). In fact, the Wall Street “investors” receive more than retirees’ net $1 billion.

I explain and walk the public through the data in this television interview (page 11).

This is prima facie criminal fraud from lies of omission and commission to the public in their “budget crisis” rhetoric in light of these collective trillions in surplus taxpayer dollars. Government officials have legal fiduciary responsibility for complete and accurate financial information communicated to taxpayers.

The good news is that the US economy can be brought to full vitality with reforms in CAFR accounts, monetary creation, and credit creation. And these are mere temporary steps compared with a resource-based economy.

The only missing element is public knowledge and demand to enact this bright economic future.

I recommend these 1% government criminals be offered a Truth and Reconciliation option (here, here). This allows the criminal 1% to avoid prosecution in exchange for complete public disclosure of the 99%’s assets and detailed history how they’ve used the 99% for their own purposes rather than public service. They would return all stolen assets.