From the Institute for Truth in Accounting…
Chicago (January 6, 2011) — Today, the Institute for Truth in Accounting released Michigan’s “Financial State of the State.” After an intensive review of the State’s 2009 audited financial report the Institute determined the State is in a precarious financial position because it does not have the funds available to pay more than $50.1 billion of the State’s commitments as they come due. Each taxpayer’s share of this financial burden equals $16,400.
Michigan state law requires a balanced budget. “If governors and legislatures had truly balanced the state’s budget, no taxpayer’s financial burden would exist,” said Sheila Weinberg, founder and CEO of the Institute for Truth in Accounting (IFTA). She continued, “A state budget is not balanced if past costs, including those for employees’ retirement benefits, are pushed into the future.” The Institute reviewed 2009 data because the September 30, 2010 financial reports for Michigan have not yet been made available. Weinberg added, “How can legislators and the governor be making decisions without timely financial data?”
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Truth in Accounting Issues: Michigan’s ‘Financial State of the State,’ True Burden $50.1 Billion”
Interesting news, here, of the newest endorsement for Chicago Mayor. Congressman Luis Gutierrez has officially endorsed Gery Chico for Mayor. This is a big “get” for Chico.
Yet another announced candidate for Chicago Mayor has dropped his bid for the top seat. Wilfredo De Jesus announced Friday that he is giving up his quest and is throwing his support over to Gery Chico.
Julianna Goldman of Bloomberg News is
OK, Illinois Republicans, a great opportunity to return the Illinois GOP back to some accountability to YOU is at hand. The Illinois legislature is about to enter its own lame duck session that will run from January 3 to January 11. During this session we have a chance to get a law passed that has quite a lot of support. It is a law that will return the Illinois GOP’s planning committee to your hands via direct elections of its members.
Jesse Jackson, Jr., was at one time one of those politicians that was on TV and radio as much as humanly possible. Like his father, it wasn’t a good idea for one’s personal safety to get between either Jackson and a TV camera or microphone. But since the end of 2008 Junior’s media appearances have been relatively scarce. So what happened? At least two scandals can be identified to have worked to force Junior into hiding.
Senator Mark Kirk (R, IL) is raising a red flag over the defense bill because the Democrat led House of Representatives and Democrat led Senate has slipped in a provision that would allow accused terrorists to be housed in prisons in the interior of the United States.
Veteran fiscal conservative Congressman Peter Roskam (R, IL) has announced the names of the 10 Republicans that are joining him on the House Ways and Means Committee, the powerful committee that has jurisdiction over taxes, trade, and programs such as Social Security and Medicare.
Not only did Rahm Emanuel 