‘Many people have asked for a simple explanation as to the intent behind the CAFR and what happened over the decades? Well, in a nut shell here is the foundation block that allowed government to take it all over by investment. It started in the mid 40’s and grew into what we have in government now seventy years latter come 2009.
Government started out as
a “pay as you go” structure. By transforming into a corporate liability
company over the decades, this gave them the ability to use “advance
projections” to strip annual operating funds and create advance forward
liability accounts whereby in doing so they were able to by stealth
build numerous “wealth bases” of equity in many designated fund
balances separate from the budget reports that were exclusively
presented for public viewing.’
Book Mark it-> del.icio.us | Reddit | Slashdot | Digg | Facebook | Technorati | Google | StumbleUpon | Window Live | Tailrank | Furl | Netscape | Yahoo | BlinkList