CAFR Question for David Price

Representative David Price gave a Town Hall Meeting at the Cary Town Hall on Tuesday, February 17, 2009. I was able to ask him a question about the Comprehensive Annual Financial Report. Walter Burien has dedicated his life to exposing this slight of hand cash exchange. Please visit his website www.CAFR1.com and do some research on your own local, state and federal CAFRs.

My question to Rep. Price -

Every year the government proposes a spending budget for the taxes collected from you and me. And every year there is always a budget shortfall, or deficit, which means the government spent more than it collected in taxes.

Well, most folks dont know that every government agency, local, state and federal have two sets of books - the budget and the Comprehensive Annual Financial Report. The budget details how the taxes collected from you and me are spent by that government agency. And the Comprehensive Annual Financial Report, or CAFR for short, contains the numbers in the budget as well as ALL other forms of government revenue and expenses.

According to the governments own CAFR reports, the government doesnt just make money though tax collection, it also makes billions of dollars though private investments. Why isnt the money from these private investments used to cover the budget deficit and perhaps eventually lowering or eliminating taxes needed for the budget?

In other words, How is this money used if it isnt used to reduce taxes? If your answer mentions government retirement and pension fundsSome of these retirement funds could have all future investments halted and it would still have enough money to pay all its qualified members for 30 or more years.

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[CAFR1]

The questions to ask on the federal level wouuld be: 1. The investors for the six trillion dollars in mortgages held by Fredie and Fannie was that not primarily gov investment capital? --- 2. When looking at total gov investment capital, from all categories, both federal and local, is not the total held in excess of 100 trillion dollars now? -- 3. What is the return from all gov investment fund holdings? -- 4. Is it not true that Gov investment return now exceeds all taxation collected?

[madamerotten]

Seriously, I blame the whole mess on Justin Bieber.

[beckweth]

Very nice. You got him dead to rights. All the top Bozo's have and know the CAFR well. And it appears, he needs a refresher course at Liars College.

[Wrongway1965]

Typical answer from a Bureaucrat... "umm.. DUH!!.. What!?.. Umm Huh..."

[nwo4no1]

I would have asked (and suggest to ask next time) 1. "What is the total income?" 2. "What is the Net Worth?" 3. "What is the total return on investments, as I understand it now exceeds all tax collected"? He will squirm like a worm, like all state and federal government representatives that get on the HOT seat...you know, like Geithner and Paulson!!!!

[Techstuf]

David price is a snake with snake oil dripping from his forehead. Employing diversion tactics to focus on the FED when he is asked point blank about NORTH CAROLINA'S CAFR, proves what a duplicitous and self important fool he is. Didn't I see him on a bohemian grove hidden camera video once?

God bless him and his associates

[goodbyegoodhair]

A constant stream of dung flows from Price's mouth.