This is the result of liberalism gone wild. No other state should be required to support California by way of taxation.
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Beautiful California has gone from red to deep blue and from rich to poor. In fact, it’s the poorest state in the union. The state is now the poverty capital of America.
The California state and local governments spent nearly $958 billion from 1992 through 2015 on public welfare programs, including cash-assistance payments, vendor payments, and other “public welfare” according to Census Bureau.
In an op-ed by Kerry Jackson for the
LA Times, the author reports that California, with 12% of the nation’s population, California also has a disproportionate one in three welfare recipients. The generous spending meant to reduce poverty appears to have increased it, she observes.
Why California Is the Poverty Capital of America! It’s About the $958 Billion
Fucking idiot. Jerry Brown took a $26 billion Republican deficit and turned it into a $6 billion surplus.
Is that why the state is over 250 BILLION dollars in debt today?
Will California ever pay off its massive debt? – Orange County Register
You're either a fucking idiot or a fucking liar. Either way you are worthless.
....and Slick Willy never really produced a surplus either. Democrats have their on accounting system.
Wingnut newspaper. Who is surprised?
News stories covering financial issues of government cite "rainy day funds" or special "ear marked" funds, loans between government entities, sales of government holdings in, for example, shares of a health care insurance company, self insurance management funds, debt repayment funds that can be up to 40% of the debt itself, and then the "budget" is often referred to, along with mentions of pension funds investments, but the full accounting of assets of government entities, the "CAFR" is typically not mentioned.[
citation needed]
"Alternative" media, since the late 1990s, has exposed segments of the public to the subject of the (U.S.) CAFR contributing to the topic being labeled as "conspiracy theory" or "soap box" issue.[
citation needed] In all reality, local government's "Net Worth" accounting document, the CAFR is a mandatory review document for any responsible taxpaying citizen.
Reporting on government financial issues can be seen as sensationalized in dealing with alleged excesses in spending or tucked away wealth held not clearly visible in the budgetary accounting. A $10,000 dollar Christmas tree for example, or vague mentions of "many billions" in referring to issues around the road improvement, self-insurance, debt repayment, and pension funds managed by a state.[
citation needed]
The State of TX based on good due diligence to its residents publishes a "Cash Report" that lists all funds managed by the state.
The 2014 TX Cash Report can be viewed here -
[6] In one recent series of reports, the
Kentucky Association of Counties whose spending came under scrutiny by the
Lexington Herald-Leader provided some awareness of these types of entities as well as their surpluses and the claimed spending excesses while using money acquired from government fees for products like municipal insurance at premium rates, which build surpluses beyond the needs of the entity.
[7]
Typical topics of the alternative media may include examples of: government entities financing each other's bond issues; Orange County California's or other divisions of government investments in derivatives; financial deals that are kept from the public to entice businesses to locate in a state, which may include tax incentives in exchange for stock assets in a company.[
citation needed]
Much of both the mainstream and alternative media coverage of the topic of government financial issues must be considered a factor in public's confidence towards issues of government
accountability.
Comprehensive annual financial report - Wikipedia
