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Wednesday, April 7, 2010

California Claims Governmental Accounting Rules Allow For Half-Trillion Dollar Shortfall.

http://www.nytimes.com/2010/04/07/business/07pension.html
Analysis of California Pensions Finds Half-Trillion-Dollar Gap
Calpers challenged the research, saying it was “out of sync with governmental accounting rules and actuarial standards of practice.”

Calpers went on to say that honesty and integrity have no place in government, and especially not in "governmental accounting practices". Calpers went on to praise the late, great Charles Ponzi, who invented the "governmental accounting practices" (which were named after him and are known as Ponzi Scheme) currently in use by the State of California. Calpers went on to say that there is nothing wrong with the current "governmental accounting practices" that can't be fixed by increasing the sales and gasoline tax to 100% and increasing the maximum income tax rate to 200%.

The onion.com was quoted as saying that if I "ever attempt to write a humorous article again, they will have my literary license revoked."

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