Texas’ debt obligations have state headed for hard financial times

July 30, 2021 | Texas Scorecard

By Robert Montoya, includes “Because of irresponsible spending practices by elected officials, Texas is $97 billion in debt."

There’s no such thing as a free lunch, or a free newspaper

July 30, 2021 | Bill’s Blog

Includes “I just got back from lunch. Normally, I like Italian beefs, but this was an alarming and depressing lunch. It cost nearly $13 for an Italian beef, fries, and a drink. Inflation is a tax, but my meal also cost me more than a buck just for the sales tax."

Chicago finances worsened by $2 billion during pandemic despite federal funds

July 29, 2021 | American News Observer

TIA press release, includes … “Although the city's grants and contributions increased from $497 million in 2019 to $1.17 billion in 2020 due to the CARES Act and other COVID-19 related grants, the city’s pension and retiree health care debt also continued to increase. … ‘Because of its dire financial condition going into the pandemic, aid from the federal government was needed to prop up the city’s finances,’ says Sheila Weinberg, founder and CEO of Truth in Accounting. …”

Where are the financial statements for the National Institutes of Health?

July 28, 2021 | Bill’s Blog

Includes “The latest annual Financial Report of the U.S. Government for 2020 (released in March 2021) does not include a reference to the National Institutes of Health or NIH."

Are public pensioners and taxpayers paying for investment performance?

July 27, 2021 | Bill’s Blog

Includes “… Citizens and taxpayers have a direct stake in the management of public pension assets. Particularly in places like Illinois, where an Illinois Supreme Court ruling a few years ago cemented the obligations of governments to retirement plans."

Local voter education

July 26, 2021 | Blog Talk Radio

Radio show last night with Sheila Weinberg, Murray Fortner, and Mark McAvot, titled “Fort Worth is $2.4 billion in the RED.”

Let’s embrace a rare opportunity for government transparency

July 23, 2021 | The Hill

Op-ed by Sheila Weinberg and Grover Norquist, includes “Sadly, because the current accounting standards guiding financial reporting by state and local governments require governments to keep two sets of books, it is difficult to determine if their budgets were balanced."

A valuable, unheeded and still-relevant warning from 1992

July 23, 2021 | Bill’s Blog

Guest post including a statement to GASB from 1992 by Richard Skiba relevant for above-noted recent GASB proposals, includes “… This is a more devious method of taxation without representation than was ever applied to the American colonists by King George III."

Coalition urges fiscal restraint on infrastructure package

July 21, 2021 | R Street Institute

Coalition letter signed by 20+ organizations, includes “… Taxpayers would be better served by a legislative package that focuses on traditional infrastructure."

Illinois public pensions plans are 32.9% funded, 2nd lowest in US

July 20, 2021 | Cities Talk FM 92.9 (Illinois)

Includes “The funded ratio of the Illinois public pension plans is estimated at 39 percent, the second-lowest percentage among the 50 states."

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