With Budget Unfinished, Legislature Heads to Special Session
Minnesota Legislature missed Monday’s midnight deadline to finish a budget but immediately entered a special session to finish their work.
By KYLE POTTER, Associated Press
ST. PAUL, Minn. (AP) — Minnesota’s legislative leaders planned to immediately return to the Capitol to finish a new budget in a special session after blowing past Monday’s midnight deadline to finish their work.
The tentative agreement between Democratic Gov. Mark Dayton and top Republicans who control the Legislature calls to finish the remaining pieces of the budget by Wednesday morning. The two sides agreed to put $660 million toward tax relief, $50 million to expand preschool offerings and $300 million to fix roads and bridges.
House Speaker Kurt Daudt said lawmakers would spend Tuesday morning finalizing the details but said he was confident their agreement with the governor would come together to finish the budget as quickly as possible. They have until 7 a.m. Wednesday to finalize the bulk of a two-year budget that will surpass $46 billion.
CAFR-Comprehensive Annual Financial Reports
- Government’s Best Kept Financial Secret
- What CAFRs reveal is a little-known, yet devious policy whereby taxpayers collectively surrender enormous assets to the government, which then invests the trillions that swell in these accounts.
- As this money is secreted away, taxpayers are warned of debilitating budget deficits to either squeeze more taxes from them and/or cut public services.
- To add insult to injury, the state commits a gross lie of omission by never informing citizens of their withheld trillions as they eliminate jobs, reduce education, and attack the quality of our lives.
So how has it gotten to this point?
In several ways…
Have you ever noticed that when a bond or proposition gets passed in your state for a construction or land management project, the actual project itself sometimes isn’t scheduled to begin until months or years in the future? It’s even written in most bills that the project wont start until a far off set future date.
Well… the money for that proposition or bill is immediately released upon passage of the legislation. Now you might ask yourself, if the money is there why doesn’t the project begin immediately?
Here is the answer…
That “taxpayer money” gets sent directly into what we’ll call a government “holding account” for a while, sometimes years and years before that public project actually begins.
Now, that money doesn’t just sit there… It is invested. It gains interest. It builds up extreme wealth – months or years of interest and capital gains on investments from that originally taxpayer funded money. This is all transpired digitally, of course.
But when it comes time to use that original amount of money for the project of which it was intended months or years later, the capital gains (profits) of that supposedly dormant money are separated from the original amount placed into the “holding account” and stay in the governments discretionary investment coffers and are then reinvested not for the benefit of the people, but for the wealth and profit of the corporate government. The problem and the inherent crime here is this – that profit is no longer considered tax-payer (public) owned money, since it was earned by investment or by accrued interest. That “extra money” goes elsewhere… mainly into other investments or funds which grease the pockets of the “in the know” politicians and corporations and other people and groups involved. Some open what are called “self insurance funds” and then draw dividends for themselves and their fellow conspirators for the rest of their political careers by insuring themselves with their own insurance funds. And the cycle goes on and on and on and on… and has for the last 70 years. And it has now reached the point where government owns it all!
How do I know this to be true?
When the yearly budget comes out for your town, city, district, county, state, and the whole country – the one that you and I and Joe Taxpayer sees that is usually in a deficit (in the red) – the money made on these individual government investments is not shown, because it is not in the “taxpayer budget” any longer. Therefore, it does not technically have to be accounted for to the taxpayers – who we can define as everyone who pays any form of taxes, which is by default everyone in the United States. There are of course, 100’s of different taxes – from gas tax to sales tax – that are used in this way as well. The money from all of these individual taxes once again just sits there and accumulates after being collected until it is distributed, and gains interest or is invested until it is spent for the purposes it was collected (apportioned).