There is tremendous Wealth in Wisconsin... State is NOT Broke

[TM7]

Some taxpayers may be tapped out and want others to get down in the same hole they are in; BUT the State is not "broke" as is the battle cry.  In fact, they're doing better than most states with alot of cash and liquid assets!!

The State of Wisconsin is not broke...and far from it. There is tremendous wealth in Wisconsin and the State controls a major portion of it and somebody wants at. People of Wisconsin beware, other state's should have such problems as Wisconsin.. .

What taxpayers are not being told from the agitprop media and with the Doyle to Walker handoff or fence;  more detail info from Wisconsin's State CAFR (look at your own state's CAFR before you are told you are broke and the politcos want to dismantle society:

http://www.fourwinds10.com/siterun_data/government/fraud/state/news.php?q=1299089955

The following is a list of totals reported in the Wisconsin State Comprehensive Annual Financial Report (CAFR), fiscal year ending June 30, 2010.The individual funds and investments that make up these totals are listed in detail below these fund “totals”.

All of this is sourced from the state’s 2010 CAFR, which can be downloaded at the state governments website, here: http://www.doa.state.wi.us/subcategory.asp?linksubcatid=374&locid=3

It may also be viewed online here: http://www.docstoc.com/docs/23131666/Wisconsin-Comprehensive-Annual-Financial-Report

Page numbers are listed, so you can follow along in the CAFR for verification, and my comments are in red.

And now, the answer to the question… Is the State of Wisconsin bankrupt?

First, let’s have a look at what Wisconsin has in its investment funds, which is not being reported to the taxpayers of the state or of America…

(See below for explanation)

————————————————————————————————————–

TOTAL PRIMARY GOVERNMENT “VARIOUS FUNDS”

-> $4,403,000,000

TOTAL UNIVERSITY OF WISCONSIN SYSTEM (UW) FUND

-> $365,800,000

TOTAL WISCONSIN HOUSING AND ECONOMIC DEVELOPMENT AUTHORITY FUND

-> $1,023,000,000

TOTAL UNIVERSITY OF WISCONSIN AND CLINICCS AUTHORITY FUND

-> $127,400,000

TOTAL STATE FAIR PARK EXPOSITION CENTER INC FUND

-> $200,000

TOTAL WISCONSIN HEALTH CARE LIABILITY INSURANCE PLAN (WHCLIP) FUND

-> $72,000,000

TOTAL UNIVERSITY OF WISCONSIN FOUNDATION FUND

-> $2,006,000,000

TOTAL STATE INVESTMENT FUND (SIF)

-> $6,603,000,000

TOTAL IN THE RISK MANAGEMENT FUND

-> $94,847,000

TOTAL NONMAJOR GOVERNMENTAL FUNDS

-> $664,459,000

TOTAL NONMAJOR ENTERPRISE FUNDS listed as “All Nonmajor Funds”

-> $1,446,072,000

TOTAL INTERNAL SERVICE FUNDS listed as “totals”

-> $350,107,000

TOTAL PENSION AND OTHER EMPLOYEE BENEFIT TRUST FUNDS listed as “Totals”

-> $66,937,157,000

TOTAL INVESTMENT TRUST FUNDS listed as “Totals”

–> $2,606,398,000

TOTAL PRIVATE-PURPOSE TRUST FUNDS listed as “Totals”

–> $2,265,681,000

TOTAL AGENCY FUNDS listed as “Totals”

-> $334,837,000

——————————

TOTAL FUND INVESTMENTS (From above list)

-> $89,299,958,000

————————————————————————————————————–

(LISTED IN TABLE 3 CHANGES IN NET ASSETS)

TOTAL NET ASSETS

-> $11,693,400,000

TOTAL CAPITAL ASSETS (WITHOUT DEDUCTIONS FOR LONG-TERM LIABILITIES)

-> $22,487,900,000

——————————

TOTAL NET ASSETS

-> $34,181,300,000

————————————————————————————————————–

TOTAL ASSETS (CAPITAL AND INVESTMENTS) FOUND IN 2010 STATE CAFR

-> $123,481,258,000

————————————————————————————————————–

Geez.....then consider privately held funds and assets.....TM7
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[Buckskin]

So what?  Still have to balance the budget...

I understand that you liberals would rather have the state be completely underwater before giving up your gravy train (and I don't think your union would allow that then either), but I'm more of a preventive maintenance man....

[lakota]

Who gets to decide what "proper taxation" is? I'm suprised you didnt reference the Michael Moore rant on Wisconsin. WE NEED TO TAKE THE MONEY BACK! ITS A NATIONAL RESOURCE!

[Buckskin]

Doesn't matter if you are, aren't, were weren't union.  For some reason you carry water for them.

Cutting these unions down a few notches is way over due and finally someone has the balls to do it.

And I suppose your fine with the national debt also???

http://www.usdebtclock.org/

[Buckskin]

Good example of union bs.

Union in Racine county is filing a grievance with the city because during our last blizzard most of the city workers were allowed to stay home and got a paid day off.  The snowplowers are filing a grievance because the had to come in and didn't get their day off!  And they are also filing a grievance because there was so much snow the city had to hire private plows to keep up, thereby cutting into the union workers overtime!!! 

That is just a snapshot of the junk that unions pull everyday and why Walker want to give municipalities the power to actually make decisions without the union mucking things up...  Good riddance.

[carbineman]

TM7 wrote<<<Listen guy...just read the report..!! I got no real skin in the game. I'm a retired private sector business guy...sold my business and did well enough. >>> End of quoted text

Getting a little testy there TM7? Seeing as how you sold your business and did well enough, why don't you donate some of your "consolidated wealth" to the State of Wisconsin to help out. As an appreciative cheesehead I'd even send you a thank you note, if you sent me a postage paid envelope.

[mcwoodduck]

Reguardless of the position of the state, broke or flush.
Having state union employees being able to strike for collective benefits only shuts down the government process effected.
FDR said that Public Employees should not be allowed to Unionize.  FDR! said that.
But the way i see it.
If the state of WI were to raise teacher salaries 100% across the board, assuming they had the funds.
Would the kids be taught better?  "sorry Johnny but I only make 40K a year and if I made 60K, I could answer your question".
Collective benefits is for the group and not for the individual.  Is you are a great teacher or you suck all are paid the same.
If you see bill sucks and you are great and you both make the same pay, why be a great teacher if you can slide by?  And we wonder why the national education system is failing.  We pay teachers more amd more and get less and less out of them.
Should the Gym teacher make the same amount as the Science, Math or English teacher?  knowing math, creating tests, quizes, and grading home work are greater skills than the rules for volley ball.  But all are paid on the same scale.
Now the one thing I have always heard is Teachers do not make a lot of money- When we had this same problem in Ca a few years ago I found teachers were making more than I was at the time.  Some were making almost 6 figures.
Now you know teachers suposidly do not make a lot of $ and you take out student loads to go be a teacher and you can not pay back your student loans because you don't make enough..... Sounds like these are too dumb to be teachers.  How can you borrow 200K+ for an education to make 30K a year?

[Pat/Rick]

WA state used to have a surplus, one socialist governor and 6 years later, and we're in big  red.
It doesn't hurt a state to operate within its budget and have a reserve. I would think of that as having responsible people in office.

[Buckskin]

WA state used to have a surplus, one socialist governor and 6 years later, and we're in big  red.
It doesn't hurt a state to operate within its budget and have a reserve. I would think of that as having responsible people in office.

Exactly.  Not only that but Wisconsin has lost thousands of jobs in the last 6 years, not from the recession.  But from Wisconsin being anti-business, raising taxes such, combined taxation.  Literally chasing business out of the state, to you guessed it, free to work states (no unions)...

[Pat/Rick]

I'll never understand why states are unfriendly to business with high tax rates. Common sense would dictate that the more people working, the larger the tax base. I certainly understand the benefits of zero corporate taxes. Perhaps if it was easier to conduct business here at home, so many jobs would not have gone overseas. Well that and the trade agreements, made by people in office who have promoted the poverty of the USA, by putting people out of work and lessening its own tax base. Now we get to borrow money.

[Buckskin]

I'll never understand why states are unfriendly to business with high tax rates. Common sense would dictate that the more people working, the larger the tax base. I certainly understand the benefits of zero corporate taxes. Perhaps if it was easier to conduct business here at home, so many jobs would not have gone overseas. Well that and the trade agreements, made by people in office who have promoted the poverty of the USA, by putting people out of work and lessening its own tax base. Now we get to borrow money.

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Tax rates are just one part of what makes states business favorable.....incidentally, Wisconsin seems to be in the middlle of the pack with corp taxes. Other factors are power, road and transportation system, comm systems, certain legal considerations, educated or trained work force, housing, price of real estate, vacinity to markets and shipping considerations, proximity to raw materials.....and a whole bunch of things that might override taxation stuff.


..TM7

Ahhh yeah one of the other things you failed to mention is UNIONS!!!  Just an oversight I'm sure...

[Pat/Rick]

Its nice to make the big union wages, I got soured on unions from personal experience. As a result I am definently not pro union.

 Unions did bring alot of good things to the work force, good wages, work conditions, etc. However I also believe that unions should have "idled back" in their demands a couple three decades ago. It is also my belief that unions are the reason that America can no longer afford itself. But then, just my opinion and YMMV.

[mcwoodduck]

I understand why the public sector unions what to vote Democrat.
Democrats want bigger government, and higher taxes.  Meaning more for them.
What I do not get is why the other unions want Democrats.
So far the Democrats are the party of NOT here.
The do not want building, they do not want manufacturing, they do not want mining, drilling or logging or any use of natural resources.  Making and gathering those resources requires fuel, requires drivers to move raw materials nad finnished goods around.  The only energy production can be wind or solar (and you have the Kenedy Clan saying not on our beaches those wind mills are ugly)  When nuke and coal power plants require many workers.  Refineries require many people.  and all of those people are union workers.
The industrial might, the natural resources and the efficiency of workers are what made the US great in the 1900's.
The "green morons" that think if it is not made here is does not pollute are killing our country.

[DDZ]

MC, I think unions are still living under the lie that the democrats are for the working man. Its one of the biggest lies there is. Yet union members blinded by being told this lie by their union leaders, go out in force to vote in corrupt democrats. 
Case in point is when Obama was campaigning, he said that he wanted to do away with burning coal for an energy source. So what did the coal worker unions do? They went out and unanimously voted for Obama and his like. Why? Because they were told that democrats are for the working man. Talk about slicing your own throat.
One of the many, and probably the biggest complaint I have about unions, is the kind of corrupt politicians they support and send money to. People that are in support of unions are also in support of those same corrupt politicians. If only union leaders told their members the truth, maybe private sector unions would still be surviving, instead of becoming a thing of the past. Of coarse when you have corrupt union leaders in the hip pocket of corrupt politicians the truth will never be told. 

[mcwoodduck]

Of coarse when you have corrupt union leaders in the hip pocket of corrupt politicians the truth will never be told.

I think you have this part backwards.
Corrupt Politicians in the hip Pocket of the Corrupt Union bosses.
Again still not sure how fewer members paying dues and making contributions to the pension fund that the Union leaders ship skim off the top from (The UPS Strike of the mid 90's proved this) helps the unions.  Other than the corrupt politicians are making good on the money that the Union leadership have skimmed keeping alive thier Ponzi scheeme for another generation.
But if there were more workers, you have more clout in bargining, demanding returns on investment, and in opperating capital.
If you figure they use the Mafia kick up rule.  A local boss that has 1,000 workers all paying 100 a Month in Dues.  10% goes to the boss and 90 to the operation of the union, he then kicks up 10% to the next level and so on and so on.
The more members you have the more that is kicked up.  The more that is paid in taxes.
Well I think it is the lefts idea to break the country.  When taxes are no longer levied on what you make but what you are worth and then they can kill the wealth if the country making all equal.

[DDZ]

Yes, I did have that backwards.

I think you are thinking right. It is the lefts idea to break the country, because its exactly what they are doing.