Former Obama Staffer Busted for Attempted Identity Theft of Iowa Sec of State [Works for Tom Harkin]
Barack Obama’s 2008 Iowa New Media Director was arrested Friday for attempting to use the identities of Secretary of State Matt Schultz, and/or his brother Thomas, with the intent to falsely implicate the Secretary Schultz in illegal or unethical behavior. Zach Edwards, 29, of Des Moines, currently works for Link Strategies, a Democrat-affiliated organization with ties to Iowa Senator Tom Harkin. Edwards is the Director of New Media for Link Strategies.
The Secretary of State’s office discovered the alleged crime and reported it to authorities. Edwards turned himself in to the Iowa DCI agents Friday afternoon. He was charged with identity theft, a misdemeanor, and booked into the Polk County jail. Edwards posted $2,000 bail and was released later on Friday. He faces up to two years in prison.
Read this story at theiowarepublican.com ...
The Secretary of State’s office discovered the alleged crime and reported it to authorities. Edwards turned himself in to the Iowa DCI agents Friday afternoon. He was charged with identity theft, a misdemeanor, and booked into the Polk County jail. Edwards posted $2,000 bail and was released later on Friday. He faces up to two years in prison.
Read this story at theiowarepublican.com ...
GAO report: Not enough wealth in America to fulfill all of Washington's promises
Releasing information on the Friday before a big holiday is a time-tested way to bury bad news. So when the Government Accountability Office’s fiscal 2011 financial statements for the federal government were released on the Friday before Christmas, it made sense to read them closely.
Since 1997, the United States has been a rare example of a government willing to publish financial statements using accrual accounting, which counts the cost of promises made as well as cash paid out. And the GAO’s professionalism over the years has won it a reputation for impartiality and effectiveness.
That professionalism is evident in the GAO analysis of the net present value of the Social Security and Medicare promises Washington has made to Americans. “Net present value” means the total that would have to be set aside today to pay the costs of these programs in the future. The government puts these numbers in appendices, rather than in headlines. But the costs are real.
In fiscal 2011, the cost of the promises grew from $30.9 trillion to $33.8 trillion. To put that in context, consider that the total value of companies traded on U.S. stock markets is $13.1 trillion, based on the Wilshire 5000 index, and the value of the equity in U.S. taxpayers’ homes, according to Freddie Mac, is $6.2 trillion. Said another way, there is not enough wealth in America to meet those promises.
If the government followed corporate accounting rules, that $2.9 trillion increase would be added to the $1.3 trillion cash deficit for fiscal 2011 that has been widely reported. And a $4.2 trillion deficit is something that Americans need to know about
Read this story at washingtonpost.com ...
Since 1997, the United States has been a rare example of a government willing to publish financial statements using accrual accounting, which counts the cost of promises made as well as cash paid out. And the GAO’s professionalism over the years has won it a reputation for impartiality and effectiveness.
That professionalism is evident in the GAO analysis of the net present value of the Social Security and Medicare promises Washington has made to Americans. “Net present value” means the total that would have to be set aside today to pay the costs of these programs in the future. The government puts these numbers in appendices, rather than in headlines. But the costs are real.
In fiscal 2011, the cost of the promises grew from $30.9 trillion to $33.8 trillion. To put that in context, consider that the total value of companies traded on U.S. stock markets is $13.1 trillion, based on the Wilshire 5000 index, and the value of the equity in U.S. taxpayers’ homes, according to Freddie Mac, is $6.2 trillion. Said another way, there is not enough wealth in America to meet those promises.
If the government followed corporate accounting rules, that $2.9 trillion increase would be added to the $1.3 trillion cash deficit for fiscal 2011 that has been widely reported. And a $4.2 trillion deficit is something that Americans need to know about
Read this story at washingtonpost.com ...
