CAFR California

Looks like California has an $8tn "rainy day fund" which are surplus assets.  Californian's should be outraged by austerity - actually along with every state since their CAFR reveals the same huge amounts of "surplus".  Going through Colorado CAFR cursory wise found at least $20bn in "rainy day funds".  These "rainy day funds" are SURPLUS.  There is zero need for taxes at any level.  How much does your state have?  Game changer in terms how wealthy the states are using tax revenues in order to invest and create tangible and liquid assets.  Looks like the states and its gov agencies own a big chunk of corp world.

http://www.washingtonsblog.com/2013/01/state-school-budget-cuts-100-funding-if-cafr-billions-trillions-disclosed.html