----- Original Message -----
From: Dick Fojut <email@example.com>
Sent: Tuesday, October 28, 2008
Subject: CAFR 'Off-Budget Incomes DWARF 'Budget Deficits'
Note: I'm also sending (again) the following to all the current members of the Arizona House and Senate. The unreported multi-trillion $ (composite) CAFR fund surpluses play a "publicly invisible" role in the financial crisis in national and global markets and banking - including the "derivatives and "swaps" BETS now beginning to be reported. So too do the "publicly invisible" multi-million and multi-billion $ surpluses inside our State of Arizona. Check out the following again for information. Instead of RAISING TAXES to solve "Budget Deficits", shouldn't we first "dip into" the (sometimes huge) CAFR surpluses? (The so-called "rainy day" funds.)
(Just Excerpts of first paragraphs in article only. Please open above URL for complete text)...
Our State and Local government "BUDGET DEFICITS" may not reflect large SURPLUSES of CAFR money income our governments' ACTUALLY possess! For example: in 2003, the State of Arizona had an $11.45 BILLION SURPLUS of Taxpayers money it was not using! The City of Phoenix had a SURPLUS of $2.34 BILLION! (See details further below.)
WHY ARE MEDIA PEOPLE NOT PUBLICLY ASKING ABOUT THESE LARGE, SOME HUGE, CAFR SURPLUSES OF MONEY?
CAFRS are the Comprehensive Annual Financial Reports sent each year to Washington, revealing the ACTUAL financial investment earnings, income, etc., and SURPLUSES of money separately possessed by 84,000 (now over 123,000) Government related entities - States, Counties, Cities, School Districts, Pension Funds, etc.
A State ONE BILLION DOLLAR BUDGET DEFICIT sounds enormous! (It was in Orange County too years back! See further below how they "solved" their deficit.*)
But publicly reported yearly BUDGETS and BUDGET DEFICITS do not reveal ACTUAL government financial conditions - especially SURPLUSES! Only the CAFRS do!
If there are LARGE SEPARATE ("off normal budget") CAFR SURPLUSES in the State of Arizona, its counties, cities and school districts, etc., it appears possible the proposed money-saving closing of schools, non-hiring, layoffs of teachers and other public employees - and tax increases - may NOT be as critically necessary as thought! (Probably the great majority of government officials, employees - and media editors, reporters are unaware of the CAFRS and CAFR surpluses.)
About the CAFRS: the COMPREHENSIVE ANNUAL FINANCIAL REPORTS...
Since 1946 (legislated by a wiser Congress), 84,000 Government entities including States, Counties, Cities, School Districts, etc., have been required yearly to report the ACTUAL accumulated financial assets and income they each separately possess.
THE NATIONAL CAFR SCANDAL WAS FIRST EXPOSED BY WALTER BURIEN...
Arizonan Walter Burien http://cafr1.com/ was the first to alert us that the Comprehensive Annual Financial Reports have intentionally been kept largely "invisible" to the American public, now for over 60 years!
Burien further revealed that:
The composite totals of investment assets held internationally by USA government is staggering. Between local and Federal government, the total of liquid investment assets held Internationally is a conservative sixty (60) Trillion dollars.
- And if Burien is correct with these percentages, note the following incredible revelation about behind-the-scene government ownership of American Big Businesses:
...Government owns most through Bond - Loan investment / stock ownership [EXAMPLES: 82% stock ownership of Microsoft Corporation, Disney 61%, AOL - Time Warner 58%, EXXON 72%] to manufacture abroad so that Government would realize greater returns on their investments at the Peoples of the USA's expense in jobs and wealth retention.
About Arizona specifically...
In 1999 Burien persuaded fellow Arizonan, retired Air Force Intelligence Officer and expert Govenment Auditor, Lt. Colonel Gerald Klatt, to do the necessary accounting to reveal the yearly CAFRS for some 39 States including Arizona - along with the two major Arizona counties and some cities. Colonel Klatt (cafrman.com), did so each year - until he died in 2004. The following CAFR reports are only through 2003. (But it should reasonably be expected that the CAFR government surpluses TODAY in 2008 total MORE than shown through 2003.) Valid question: Are the current proposals to cut teachers, government employees, services and increase taxes REALLY necessary? Consider the following...
Separate CAFR surpluses in Arizona through the year 2003 (from Klatt's website)...
All information posted on this web site is
the opinion of the author and is provided for educational purposes only.
It is not to be construed as medical advice. Only a licensed medical doctor
can legally offer medical advice in the United States. Consult the healer
of your choice for medical care and advice.