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.
Note: this is an article introduction only: Google search requirements force Daily Censored to not allow articles to be posted on multiple places at the same time. Therefore, I have to insert such text at DC’s request. The entire article can be viewed here.