Devvy Kidd: Are the states really broke or hiding assets? Alaska?

From: News with Views

46 Of 50 States Could File Bankruptcy In 2009-2010

“It’s very possible you’ll see the end of the United States as we know it. If the Fed doesn’t bailout the States when their cash dries up and the banks don’t loan them money, then our States will be left in financial ruin. This would be a tragic and unprecedented event never experienced in the United States.”

An all too familiar refrain. California is getting the highest visibility. A state run by a nit wit governor who has continued to rubber stamp the mass fleecing of taxpayers year after year by the Democrat controlled state legislature. Barack Hussein Obama aka Barry Soetoro aka and so forth, is claiming that Republican governors are begging for the gang rape “economic stimulus package.” Actually, governors of both parties want their share of the booty, some $176 BILLION dollars that doesn’t exist:

Minnesota Gov. Tim Pawlenty, who is widely viewed as a potential presidential contender in 2012, said governors have little choice but to accept the relief being offered. “States have to balance their budgets,” he said. “So if we’re going to go down this path, we are entitled to ask for our share of the money.”

They’re all lining up, including Saint Sarah Palin. I got beat up from Sarah fans during the pretend election because I would never vote for her based on her past record as a governor, her phony rhetoric about being a reformer and the poor judgment she displayed regarding her former brother-in-law. Palin signed bloated budgets and now she’s lined up with her hands out for you to pay for her state’s shortfall under her stewardship:

“We in Alaska all know Alaska has a fiscal disaster waiting to happen. If the oil production decline rate steepens and oil prices drop, the state’s rosy financial situation could turn bleak, which could be a problem with a bloated state budget.”

This woman has never met an earmark she didn’t love. Palin attended the Alfalfa Dinner last weekend in Washington, DC. This ‘closed club’ of 200 of Washington’s “elites” was established in 1913. No press allowed. Saint Sarah was introduced to the attendees by none other than Vernon Jordan. Remember him? He was the adulterer-in-chief’s legal fixer when he dropped his drawers for Monica Lewinsky. Jordan also introduced Slick Willy to world “leaders” at the Bilderberger conference in 1991. That’s when the fix was in to install a little known governor who raped a woman named Juanita Broaddrick and was famous for his sexual escapades and cocaine use. I have some advice for Palin: Lie down with dogs, get up with fleas. However, as she is a player and not some neophyte in the world of politics, Palin has her own agenda. She also has a financial mess in her own state.

Where is this $176 BILLION dollars supposed to come from? Not the people’s treasury. It’s now over drawn $10.6 TRILLION dollars with the interest compounding faster than a speeding bullet and another $72 TRILLION DOLLARS in debt for programs like social security, Medicare the these endless “wars” against terrorism.

Are all these governors stupid? Have they never heard of the ‘national debt’? Where do they think this “money” will come from? This worthless fiat currency will have to be borrowed by CON-gress from the “FED.” They will create more debt to reward state legislatures for incompetence and they want you, me, our children and grand children to hand over every penny we make to fund this lunacy. It will turn into nothing more than another massive “income” tax hike through the back door.

But, are the states really broke?

At least ten years ago, a man named Walter Burien began exposing something called a CAFR: Comprehensive Annual Financial Report. Walter managed to get on a SF radio show hosted by my friend, Geoff Metcalf. It was a real eye opener. Try as we all did, not one newspaper in the State of California would expose the truth of how the taxpayers were being fleeced. Nor would 99% of the radio stations statewide. I guess they all love being flogged every April 15th to reward the thieves in the state house.

I’ve written about this issue before and perhaps now, with the states crying poor, the citizens of the 50 states will do what I did years ago: I went to the Comptroller’s Office in downtown Sacramento and got a copy of the CAFR. Oh, they didn’t want to give it to me, but I whipped out my press credentials and after some muss and fuss, I obtained a copy. I am not an accountant so a lot of that tome was foreign to me. However, thanks to Walter and Gerald Klatt, even someone like me can understand this complicated shell game:

What is the Comprehensive Annual Financial Report (CAFR)?

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