Fault Lines – California: Failed State – 11 June 09 – Part 1
Fault Lines – California: Failed State – 11 June 09 – Part 2
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Shock Doctrine California, Part III
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The Statement of Net Assets (page 28) from the latest Comprehensive Annual Financial Report (CAFR) for the state of California, year ending Jun 30th, 2008, says that there are Total Current assets of approximately $55B, with Total assets listed at approximately $182B (these figures include Government & Business-type activities).
http://www.sco.ca.gov/ard_state_cafr.html
The politicians never discuss the CAFR, they only discuss annual budgets and budget shortfalls. The CAFR is basically the state’s Balance sheet. So, if one takes into account assets left on California ‘s balance sheet is the situation really as dire as it is being made out to be?