1611597085846-gettyimages-71418271.jpeg?crop=0.6666666666666666xw:1xh;center,center&profile=RESIZE_400xHow many times have you heard a politician beg for more money (for the greater good) and use a short fall as a reason to raise taxes. This time a State accidentally discloses they discovered mystery stash! South Carolina Discovers $1.8 Billion in Lost Funds, Hidden In Their Own Account!  

South Carolina is facing a perplexing financial situation as it uncovers a substantial $1.8 billion in a state bank account, leaving authorities puzzled about its source and intended use. The Republican Governor, Henry McMaster, attempted to alleviate public concerns by asserting  "no money was lost." However, the absence of accountability has sparked apprehension among both lawmakers and citizens.

"No money was lost.", we just couldn’t find it for decades, that all!  OBTW - we found it in our own account! 

The revelation arises from the aftermath of a turbulent transition in the state's computer systems during the late 2010s, resulting in ongoing accounting difficulties. As investigators dig deeper into the matter, they discover a complex trail where funds were moved from undisclosed sources into an account, allegedly to rectify discrepancies in the state's financial records.

At the forefront of revealing the truth is Republican State Senator Larry Grooms, who likened the situation to a perplexing scenario of a bank with unclaimed funds. The lack of transparency regarding the $1.8 billion illustrates a situation of disarray and inefficiency within the system.

Republican Treasurer Curtis Loftis is facing criticism for his lack of substantial responses and his tendency to shift responsibility onto the comptroller general, Brian Gaines. Meanwhile, Gaines has been open in addressing inquiries, emphasizing the clear difference in accountability between the two officials.

Governor McMaster has chosen to pause any immediate plans for spending the discovered funds until their intended purpose is determined. Such a cautious approach demonstrates a deep understanding of the seriousness of the situation, recognizing the importance of conducting a comprehensive investigation and ensuring transparency in managing state finances.

The fact  Loftis and Gaines have been called to appear before Senator Grooms' panel highlights the pressing need to address this financial dilemma. Given the significant amount of money at stake, it is only natural for the people of South Carolina to expect transparency and responsibility from their elected representatives.

As the investigation continues, it is crucial for the state to focus on transparency and address any systemic flaws in its financial management processes. The finding of a significant amount of money trapped in bureaucratic red tape is a clear indication of the need for careful monitoring and responsible management of public funds. 

Final Word: You and I lose our car keys and on occasion maybe a hat or pair of shoes but for a State losing 1,800,000,000.00 sitting in a bank account for years begs the question of: ‘How come it took a Republican Stateman to discover the funds?’ Would this been the same outcome if a Democrat would have tripped over the money?   

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  • As stated by my younger daughter, who is a senior accountant for a major medical institution (for 35 years) - - "The result of lousy bookkeeping practices and not enough audits"!! And who is to say any bank statements were not sent to a specific individual, by "special request"!!

  • BS... Just found 1.8 Billion in a bank account?

    Banks send MONTHLY Statements... whose opening the States mail?  One might want to ask where the interest paid on this account went. That might be very revealing.  If no interest or BELOW MARKET RATE INTEREST was paid on the account that would also be very revealing.

  • This state gov't has long been beyond corrupt 

  • Typical BS from another govt. office. I mean HOW much did the Pentagon lose or misplace?

  • Hmm, maybe I should write, or call my Gonenor McMaster and ask when was the last time we had an audit and could those funds possibly belong to our SCDOT?? I only ask, because our roads and highways have been lacking attention for a very long time!!

    • Sorry, that typo should "Govenor McMaster"!

    • Govenor McJerk! .........Sorry about the typo! 🤣

    • 👍

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