The Commonwealth of Kentucky's net financial position has declined by 65% while Gov. Steve Beshear has been in office, according to an official state government report called Comprehensive Annual Financial Report (CAFR).
This report is widely circulated among banks but never mentioned by Kentucky's mainstream media. In fact, KRS 48.800(3) mandates the CAFR to be made available each year by September 30, but during Beshear's time in office it has always been released quietly during the week after Christmas.
In the 2007 CAFR, Kentucky's current assets minus current liabilities exceeded $17 billion. After years of steady declines under Beshear, that figure fell to $10.5 billion in 2013. These figures do not include Kentucky's massive unfunded future pension liabilities.
The 2014 figures will include the very beginning of Kentucky's ObamaCare catastrophe. Please spread the word. More of us need to be looking for those numbers in one month. They will be published here as soon as I have them.
