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Arkansas - Budget - Liberals - Taxes - Truth in Accounting - Warner Todd Huston

True Arkansas Taxpayer Burden is $2.47 BILLION

November 16, 2010 by

From the Institute for Truth in Accounting…

Arkansas’s “Financial State of the State”

Chicago (November 15, 2010) — Today, the Institute for Truth in Accounting released Arkansas 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 $2.4 billion of the state’s commitments as they come due. Each taxpayer’s share of this financial burden equals $3,300.

Arkansas law requires a balanced state 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.”
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True Arkansas Taxpayer Burden is $2.47 BILLION”

Budget - Democrats/Leftists - Economy/Finances - Government - Liberals - Montana - Nanny State - Taxes - Warner Todd Huston

The True Burden for Montana’s Tapayers is $753 Million

November 12, 2010 by 1 Comment

From The Truth in Accounting Institute…

Montana’s “Financial State of the State”

Chicago (November 11, 2010) — Today, the Institute for Truth in Accounting released Montana’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 $753 million of the state’s commitments as they come due. Each taxpayer’s share of this financial burden equals $2,400.

Montana law requires a balanced state 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.”
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The True Burden for Montana’s Tapayers is $753 Million”

Budget - Democrats/Leftists - Economy/Finances - Government - Illinois - Illinois State Government - Liberals - Taxes - Truth in Accounting - Warner Todd Huston

Sheila Weinberg Speaks at the State Policy Network Annual Meeting

October 2, 2010 by

From The Institute for Troth in Accounting…

Two weeks ago, Truth in Accounting CEO, Sheila Weinberg, had the opportunity to speak at the State Policy Network in Cleveland, OH. State Policy Network is the largest gathering of state think tanks from around the country. Sheila addressed attendees on the importance of using accurate accounting when calculating balanced budgets. She emphasized how it is currently impossible for citizens to hold lawmakers accountable, because citizens are not given the facts about the financial impact of elected officials’ decisions. The speech struck a chord with audience the members, some of who were hearing this for the first time.

Sheila advised the group: ‘Governments have been able to expand because the public has not been told about how much things cost. If elected officials had to balance the budget using truthful numbers, people would be outraged by how much government costs and the taxes they have to pay for the government they are getting.’
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Sheila Weinberg Speaks at the State Policy Network Annual Meeting”

Budget - Democrats/Leftists - Economy/Finances - Liberals - Taxes - Truth in Accounting - Warner Todd Huston

Video: Institute for Truth in Accounting

September 20, 2010 by

From the Institute for Truth in Accounting…

If we’d known all the facts… We might have have made a different decision…..

Do you know the truth about our federal financial situation?

It isn’t pretty. But we have to face the truth… or we could face disaster.

The Truth in 2010 campaign aims to get office seekers, opinion leaders, and voters engaged in a crucial issue for our country’s future: our massive, troubling, and often-ignored government debt. The United States is deeply in debt, plagued with dubious accounting standards, and saddled with massive unfunded obligations. Each of these issues will have a long-term impact on our nation’s future freedoms, standard of living, and on each of our lives.

Our nation faces profound financial challenges that will require bold leadership, citizen engagement, and tough decisions. Without accurate financial information, none of these is possible.

The Institute for Truth in Accounting provides its expertise to develop more effective accounting standards and deliver accurate government financial information to policymakers, opinion leaders, and citizens so that they can work for a more secure financial future.
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Video: Institute for Truth in Accounting”

Budget - Economy/Finances - Government - Illinois - Illinois State Government - Liberals - Taxes - Truth in Accounting - Warner Todd Huston

FOX Chicago Sunday: Sheila Weinberg of Truth in Accounting

September 3, 2010 by

Some great video featuring the founder of The Institute for Truth in Accounting…

Sheila Weinberg, of the Institute for Truth in Accounting, tells FOX Chicago Sunday why she thinks the state’s financial problem is much worse than politicians and the media are reporting.

The Institute for Truth in Accounting is a watchdog group that analyzes the true financial picture of private and government entities.

Budget - Democrats/Leftists - Economy/Finances - Government - Illinois - Liberals - Taxes - Truth in Accounting - Warner Todd Huston

Truth in Accounting: Illinois’ Budget Study Completed

August 25, 2010 by

From the Institute for Truth in Accounting

US Chamber of Commerce Looks for Solutions to Looming States’ Pension Crises

The U.S. Chamber of Commerce’s National Chamber Foundation and the U.S. Chamber’s Labor, Immigration & Employee Benefits division co-sponsored an event on July 30th underscoring growing budgetary pressures state and local governments are experiencing. The current economic downturn is underscoring the increasing retirement cost included in government budgets, due to increased pension benefits.
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Truth in Accounting: Illinois’ Budget Study Completed”

Budget - Capitalism - Democrats/Leftists - Economy/Finances - Government - Taxes - Truth in Accounting - Warner Todd Huston

Truth In Accounting’s Sheila Weinberg on CSPAN

August 1, 2010 by

From The Institute for Truth in Accounting…

Sheila Weinberg, Founder & CEO of the Chicago-based Institute for Truth in Accounting, spoke at the Private Solutions in Public Sector Pension Plans conference held by the U.S. Chamber of Commerce. Her speech highlighted the need to bring FACT based budgeting (download .pdf) to state budget processes.

Her speech starts at the 16:00 minute mark in the video that can be viewed from the CSPAN library. Other speakers at the event included David Walker, President of Peter G. Peterson Foundation, State Senator Chris Lauzen (R-IL), Andrew Biggs, Resident Scholar-American Enterprise Institute (AEI), Dana Bilyeu, Chief Executive-Public Employees’ Retirement System of Nevada, Jack Dean, Editor-Pension Tsunami, President, Fullerton Association of Concerned Taxpayers, Ray Scheppach, Executive Director-National Governor’s Association, and Diana Furchtgott-Roth, Senior Fellow- The Hudson Institute.

Budget - Democrats/Leftists - Economy/Finances - Government - Liberals - President - Taxes - Truth in Accounting - Warner Todd Huston

Truth in Accounting: The National Discussion on Our Federal Budget Saturday, June 26

June 14, 2010 by

From the folks at Truth in Accounting…

Our national debt is projected to grow at an unsustainable rate if our country remains on its current course. Our nation’s leaders have decided that something needs to be done, but they need to hear from us and they are willing to listen. It is time to come together as a country to make the tough choices that will ensure America’s Future.

Join Americans at meeting halls across the country linked together by satellite and the internet to let them know what we think. The National Town Meeting is our chance to learn about the issues, find common ground and present your priorities to leaders in Washington.
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Truth in Accounting: The National Discussion on Our Federal Budget Saturday, June 26″

Budget - Chicago - Democrats/Leftists - Economy/Finances - Government - Liberals - Taxes - Warner Todd Huston

National Debt Closes In On $13 Trillion

May 13, 2010 by

From the Institute for Truth in Accounting…

Those of us who suffer from triskaidekaphobia, the fear of the number “13”, have nearly a trillion reasons to be afraid, very afraid in the next few days. During this period, the debt of the United States will exceed $13 trillion dollars for the first time in the nation’s history.

“Federal Debt” is the total of all debt instruments issued by the United States and consists of two basic categories. Debt owned by the public are the bills, notes and bonds in the hands of individuals, corporations, banks, state and local governments as well as these obligations held by foreign governments. This publicly held debt amounts to $8.4 trillion or about 65% of all federal debt. The other category includes intergovernmental holdings which are mostly non-marketable securities held by government trust funds, revolving funds, special funds and Federal Financing Bank securities. These obligations amount to about $4.5 trillion, or 35% of all federal debt.
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National Debt Closes In On $13 Trillion”