Financial report: No bragging rights for state

Republican American (Connecticut) | October 21, 2019

Connecticut has received another embarrassing financial distinction. This leaves little doubt that goodies for Big Public Labor hurt average taxpayers. Truth in Accounting, a Chicago-based think tank, has released the 2019 edition of its “Financial State of the States” report. It deemed Connecticut’s financial situation the 48th healthiest in the United States.

Boston ranked one of the best cities … or is it?

Kate Brennan | Boston Patch | October 17, 2019

Conde Nast Traveler (CNT) released its "The Best Cities in the U.S.: 2019 Readers' Choice Awards" this week.

Rick Scott warns six governors about rising debt

Florida Daily | October 16, 2019

Last week, U.S. Sen. Rick Scott, R-Fla., sent letters to the governors of Illinois, Massachusetts, Hawaii, Delaware, Connecticut and New Jersey–all Democrats save Gov. Charlie Baker, R-Mass., outlining his concerns about rising debt in their states and showcasing the actions he took as governor to turn around Florida’s economy.

Fiscal health ranking needs a deeper dive

John Krein | The State Journal-Register (Illinois) | October 16, 2019

The SJ-R recently reprinted a Champaign News-Gazette editorial citing Truth in Accounting about state fiscal health. The lack of complete information calls into question “Truth.”

Financial Crisis

Dinar Recaps

David Moadel | | October 11, 2019

If a nation is only as strong as its constituent states, then America is in serious trouble. Some states are in worse shape than others, but unfunded liabilities have gotten so bad that the nation as a whole is threatened with financial ruin.

Truth in Accounting with Sheila Weinberg and Bill Bergman

SoundCloud | October 10, 2019

Ostrolenk speaks with Sheila Weinberg and Bill Bergman, from Truth in Accounting, which offers comprehensive analysis of government fiscal data on the federal, state, and local government level.

Powell: Fed’s ‘significant’ political protection makes public outreach an ‘obligation’

Reuters | October 10, 2019

The “significant” protection the U.S. Federal Reserve has from short-term political pressures also gives it an obligation to “clearly explain” monetary policy, Federal Reserve chairman Jerome Powell said on Wednesday.

Pension and OPEB costs weigh on government balance sheets

Sheila Weinberg | Accounting Today | October 9, 2019

For too long, citizens and government officials were not provided with the financial information needed to make knowledgeable tax and spending policy decisions. This resulted in all 50 states accumulating a combined $1.5 trillion in debt related to pension and other post-employment benefits, while elected officials claimed balanced budgets.

Pension debt accounts for over half of all debt for US states

Michael Katz | Chief Investment Officer | October 9, 2019

Unfunded retirement liabilities are the main contributing factor to state-level debt, according to a new report from conservative think tank Truth in Accounting (TIA). Pension debt accounts for approximately $824 billion of the estimated total $.5 trillion of unfunded liabilities in US states.

Financial report tough on state

The News Gazette (Illinois) | October 8, 2019

When it comes to its finances, the state of Illinois has gone from bad to worse. The good news, if one can call it that, is it’s not yet the worst.

Rep. Ryan makes case for property tax reform

PA Townhall (Pennsylvania) | October 3, 2019

Rep. Frank Ryan, R-Palmyra, answered calls from citizens this week about his proposal to eliminate school property taxes for Pennsylvanians, cautioning them that something needs to be done to prevent future problems with the commonwealth’s finances.

Opinion | Jim Nowlan: Why so much red ink in Illinois budgets?

The Southern Illinoisan | October 3, 2019

In response to a recent essay of mine about our state’s parlous load of debt and unfunded obligations, a reader asked: Why so much red ink? The answer lies in an unsavory stew of human nature; our state’s political tradition of careerist politicians, and the political self-admonition of “not on my watch.”

Colorado gets a ‘D’ for financial health

Jeanne Davant | Colorado Springs Business Journal | October 2, 2019

Colorado’s finances rank 27th in the nation, and the state earns a ‘D’ for its financial condition, according to Truth in Accounting’s 2019 State of the States report.

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