Every year, the Federal Government spends trillions of dollars. Budgets of states, counties and cities also put out vast sums of money for goods and services. Official agencies are required to document their spending, so these expenses can be viewed by the public. One of the statements used to fill this requirement are called Comprehensive annual financial reports, or CAFR’s.
Although designed to deliver information to the public, these reports are usually so large and confusing, they can not be understood by most people. It takes years to learn how to properly interpret one of these massive statements.
Walter Burien is an expert on CAFR reports. He is a former Navy veteran and has worked trading commodity futures.
Burien is our guest on the show today. He is here to talk to us about CAFR’s, and what they mean to ordinary Americans. We will discuss black-budget spending, as well as the causes behind greater levels of spending.
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