Ask the Experts: Biden’s infrastructure plan and America’s largest cities

May 14, 2021 | Truth in Accounting’s YouTube Channel

Video interview and discussion with Steven Malanga, senior editor at City Journal and Manhattan Institute fellow, and Sheila Weinberg, CEO and founder of Truth in Accounting. 

Morning Newsfeed

May 13, 2021 | WMAY-AM Radio (Illinois)

Interview of Sheila Weinberg by Greg Bishop re: our latest City Combined Taxpayer Burden report, including the findings re: Chicago.

Illinois politicians cashing in on little-known pension perk

May 12, 2021 | WGN-TV News

Video segment, text intro includes “Thanks to a little-known pension perk, some former Illinois lawmakers are earning more in retirement than they did while in office. … ‘I do not, unfortunately, even though I live in Illinois, have hope for Illinois,’ Weinberg says.”

Illinois is tardy with fiscal year 2020 financial report

May 6, 2021 | Across Illinois (Patch)

By Truth in Accounting, includes “Timely information is crucial during government decision processes like budgeting. However, most states issue their Comprehensive Annual Financial Reports (CAFR) long after their fiscal year's end. Several states have still not issued their 2020 annual financial reports even though their fiscal years ended more than 300 days ago.”

Interview: Fort Worth Councilmember Cary Moon

May 5, 2021 | Texas Scorecard

By Robert Montoya, includes “Q. Truth in Accounting found Fort Worth to be a sinkhole city, meaning it would need $9,400 more per taxpayer to pay all of its debts. They found most of the problems stem from growing unfunded retirement obligations. ”

Illinois to record $1 billion marijuana sales by year-end, surpassing liquor

May 4, 2021 | Newsweek

By Benjamin Fearnow, includes “… The government finance watchdog group Truth in Accounting gave the city of Chicago's government an ‘F’ for its financial health rating in a February report card.”

Bill Bergman

Pennsylvania Institute of CPAs – CPA Conversations

May 3, 2021 | New GASB proposals and their effect on accrual accounting

One-hour podcast interview, text intro includes “Bill Bergman, director of research for Truth in Accounting, joins us to discuss recent proposals by the Government Accounting Standards Board and their effect on accrual accounting. He explores the status of GASB Projects 3-20 and 3-25, whether the new proposals change the definition of accrual accounting, and how they relate to revenue recognition.”

US national debt is actually #123 trillion: Report

May 3, 2021 | Vision Times

By David Wagner, includes “… The report states the Treasury only considers $175.3 billion of Social Security and Medicare liabilities as debt because, ‘recipients do not have the right to benefits beyond the benefits currently being paid and laws to reduce or stop future benefits can be passed at any time."

Why Boston is in trouble

April 30, 2021 | Forbes

By Adam Andrzejewski, includes “… Recently, the city council faced a $65 million budget hole last year, but still voted to increase spending by $119 million. They were likely counting on a bailout from the American taxpayer.”

The Music City meltdown

April 29, 2021 | The Wall Street Journal

Op-ed by Steven Malanga, includes “… City leaders have used deficit financing to balance Nashville’s books and spent much of the city’s reserve funds. The Tennessee comptroller has threatened a state takeover, and even the Biden administration’s lavish stimulus isn’t enough to plug Nashville’s budget hole. Amid all this, angry local groups are trying to spur a special election to roll back a gigantic property tax increase.”

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