State Rep Pat Strachota shows us that the REAL Liar's Club is not in Burlington anymore.
Rep. Pat Strachota (R-West Bend) said today one measure of the state budget deficit -- GAAP, or Generally Accepted Accounting Principles -- puts it at $2.44 billion, and growing.
Strachota said the state comptroller's new year-end report on 2007 state government finances shows a GAAP deficit that grew by $290 million in a year, and grew by $1 billion over the last five years.
Strachota said GAAP measures future state obligations, including commitments of about $1 billion a year to local governments. But elected officials in the Capitol use a different bookkeeping method, which says state government will have a surplus of $66.9 million on June 30.
This year, state government will spend $13.8 billion, not including federal aid or the transportation budget.
GAAP closely resembles the way ordinary people figure out their financial position.
State Budget press releases, on the other hand, show how dopesmoking maggot-infested hippie good-time-Charlies can re-write reality to conform to Mary Jane dreams.
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