Truth in Accounting Exposes ‘Unbalanced’ Budgets: Illinois one of the five ‘sinkhole’ states

Chicago, (August 2011) – While Congress debated legislation that includes a federal balanced budget amendment, many pointed out that 49 out of the 50 states have that same legal requirement. However, a new comprehensive study by non-partisan Institute for Truth in Accounting reports most state balanced budget laws have not worked, because past governors and legislators have not […]

Institute releases the Illinois Budget Transparency Study

CONTACT:  Nancy Mathieson, 847-226-8589 / Springfield’s Budget Process is an “Impediment to Self-Government” (Chicago) — The non-partisan Institute for Truth in Accounting today released its two-year study on the transparency in the state of Illinois’ annual budgeting process.  Sheila Weinberg, the Institute’s founder and CEO stated “While Illinois doesn’t intentionally hide financial information, the budgeting […]

Truth in Accounting’s Fifty State Study Uncovers the True Financial Condition of the States

PRESS RELEASE from Truth in Accounting, contact is Nancy Mathieson, 847-226-8589: Only four U.S. states have sufficient assets to pay their debt and obligations related to pension and retirees’ healthcare. Today, the Institute for Truth in Accounting (IFTA) announces completion of a significant, comprehensive study of all 50 states’ assets and liabilities, including pension and […]

Almost six of ten Americans now receive at least one federal, cash benefit

Editor’s note: The following post is from our friends at the Institute for Truth in Accounting. It’s a sobering landmark on the path to fiscal ruin. A Shocking Statistic Almost six of ten Americans now receive at least one federal, cash benefit. These benefits cost $2.3 trillion, annually. The trouble is, the government only collects $2.2 […]

Legislative Leaders Fail To Obey Budget Law

Editor’s note: The following is from our friends at the Institute for Truth in Accounting. For Immediate Release – March 17, 2011 Contact: Nancy Mathieson, 847-226-8589 Legislative Leaders Fail To Obey Budget Law (Chicago, March 17, 2011) – On every third Wednesday in March Illinois’ House and Senate are required to adopt a joint resolution […]

Can you handle the truth about our nation’s and our state’s budget mess?

Editor’s note: The Institute for Truth in Accounting’s Sheila Weinberg sent out an email the other day and mentioned her recent talk at the State Policy Network’s annual meeting. We post an excellent excerpt below and link here to the Institute’s website — it’s a goldmine of TRUTHFUL information about our nation’s and state’s fiscal situation. […]

Study Confirms States’ Financial Situation is “Obscene”

Editor’s note: This is an important late-summer press release from one of my favorite organizations, the Institute for Truth in Accounting. Should Republicans gain ground this November, I trust they’ll realize the Institute is non-partisan and will continue to play the much-needed role of watchdog after the election.   CONTACT: Darlene Porteus, 847-835-5200 TRUTH IN […]

Governor – You Can’t Balance Illinois’ Budget By Borrowing Money

The following is a press release from the Institute for Truth in Accounting. Institute for Truth in Accounting Issues Guide to Honest Budgeting To help citizens determine if Gov. Pat Quinn’s budget is truly balanced the Institute for Truth in Accounting has published “Are We Unbalanced? – A Guide to Reviewing Governments’ Budgets.” “You and […]