Editorial, includes “Everyone who's paying attention knows that Illinois' finances are in terrible shape. But, really, how bad are they? Well, according to Truth in Accounting, it's even worse than the worst pessimists among the citizenry think it is. "Government officials continue to obscure large amounts of retirement debt on their balance sheets, despite new rules to increase financial transparency," the Chicago-based financial think tank states. "This skewed financial data gives state residents a false impression of their state's overall financial health." The question raised by this latest revelation is whether it even makes a dent in our collective understanding of the gravity of this state's finances. …”
Read the full article on: Champaign-Urbana News Gazette