F.A.C.T.-Based Budgeting Provides Honest State Numbers
1/22/2012
Australia, New Zealand, and Canada have successfully adopted systems similar to Full Accrual Calculations and Techniques. How about us? |
Big Elephant in the Room: Deceitful Government Accounting
1/17/2012
Numbers... Money... It’s all very confusing, and only affects those one percent guys out East, right? Wrong. Listen to Sheila Weinberg on KYGT Radio in Idaho Springs, CO. |
Pension Puffery
1/8/2012
Here are 12 half-truths that deserve to be debunked in 2012. |
Download our Financial State of the States Report
1/8/2012
See Your State's Financial State of the State at: StateBudgetWatch.org |
Vermont: Merry Fiscal Christmas!
12/13/2011
The state's inability to back off its ever more ambitious spending programs can’t help but raise question about just how sound Vermont’s long term finances are. |
GASB Receives Comments from People With Vested Interests in Pension Reporting
11/20/2011
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Grand Forks Herald: A better way exists to force budget change
11/13/2011
Truth in Accounting rules would help bring about the balanced budgets and fiscal responsibility Americans want. Why should we think a federal balanced-budget amendment would succeed? The answer is it would not succeed. |
New Zealand Leads the Way In Clear Disclose
11/12/2011
In 1990s the New Zealand federal government moved to using FACT based budgeting and accounting. |
Number Chicago City Employees GreaterThan Top 5 Corporation's Employee
11/12/2011
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Missouri County Retirees Should Only Be Receiving 62% of Their Pension Benefits
11/4/2011
Counties’ Liability for Pension Benefits is Nil |
Calculating Your City's Financial State
11/3/2011
Difficult, but possible |
Commentary: Tips how Occupy Wall Street can really force change
11/3/2011
We have Generation X and Generation Y. Let’s call the next one Generation Z — for Zero — because that is the chance they have of ever paying off debt being dumped on them by local, state and federal politicians.
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Here's What Happened This Fall at Truth in Accounting
11/2/2011
Read our Fall e-newsletter |
PBS Nightly Business News: David M. Walker (Comeback America Initiative) and Sheila Weinberg at DePaul University
10/19/2011
The Institute joined DePaul University to host "Fiscally Speaking" presentations by Sheila Weinberg and David M. Walker, former US Comptroller General. |
The Passing of A Great Man
9/2/2011
Ralf Seiffe, the Institute's Research Director passing. |
Sheila Weinberg interview on Hawaii Radio KHVH
8/20/2011
Five Questions with Sheila Weinberg on KHVH. Listen to radio interview. |
Sheila Weinberg on Fox Chicago TV
8/18/2011
Illinois called a "Sinkhole" State for Massive Debt. Read more for video clip. |
Elmer Staats
8/7/2011
The respected Comptroller General for four presidents has died. |
Unfortunately, It is Time to Read the Nightmare Scenarios Again
8/6/2011
I posted this in May 2009, but now we are starting to live the nightmare.
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Comeback America Initiative Unveils Fiscal Frameworks to Avoid, Address Another Economic Crisis
8/5/2011
Former U.S. Comptroller General David M. Walker Provides Comprehensive Recommendations to Put Nation's Finances in Order. Read more for full Report.
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Is There Money In the Social Security Trust Fund?
8/4/2011
The piggy bank is empty. |
States with Balanced Budget Amendments Are $1 Trillion in Debt
8/3/2011
It all depends on how you count. |
Are we already above the debt ceiling?
7/27/2011
According to a Treasury Department web page we are. |
The Tale of Two Books
7/25/2011
The art of federal government accounting |
Balanced Budget Amendment Will Not Work
7/16/2011
Unless Truth in Accounting is enacted |
Institute's 50 State Study uncovers the true financial condition of the states
6/27/2011
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 retirement healthcare obligations.
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Save the Date: U.S. Senator Mark Kirk and Hon. David M. Walker October 17th
6/22/2011
Truth in Accounting and the Comeback America Initiative host the Fiscal Solutions Tour, 11:30 AM Luncheon Chicagoland Chamber of Commerce, 3:00 PM Seminar DePaul University Chicago Conference Center. Details to follow. |
Opacity of State Pension Data Unbelievable
5/30/2011
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An Interested Reader Sees A Bigger Problem At The IMF
5/19/2011
DSK will have his day in court but what's apparently undisputed is the cost of the room he occupied. One reader sees a larger meaning in a very large hotel bill. |
Re-building Japan Compared to Feb. Federal Deficit
3/15/2011
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Cajun Crisis: Louisiana's Financial Situation
1/17/2011
Here's a link to the Pelican Post from Louisiana and a further link to a radio interview with the Institute's Sheila Weinberg. |
True Debt Unknown?
9/21/2010
Widely varying estimates of the total US debt and obligations agree on one thing: it's more--a lot more--than the $13.4 trillion the federal government reports. |
Watch Weinberg on Fox Chicago Sunday
8/28/2010
Sunday, August 29, at 8:30 a.m. Truth in Accounting Founder & CEO, Sheila Weinberg, will appear on Fox Chicago Sunday. |
Social Security & Medicare Trustees' Report FINALLY Out
8/5/2010
Better late than never! |
Sheila Appears on CSPAN at US Chamber
7/31/2010
View her speech. |
THERE IS NO SOCIAL SECURITY TRUST FUND
7/5/2010
It's all a Ponzi scheme. |
Privatization of Social Security is and is not a Drain
7/4/2010
The government takes less money in now, but may save money in the long run. |
Oh where, oh where is the Social Security Trustees' Report
7/2/2010
How can the country operate without knowing the amount of the huge liabilities associated with these programs? |
Official debt closing in on $13 trillion.
5/18/2010
On Monday it was $12,974,895,930,216.56. |
In Illinois: Three Legislators on How to Close a Budget Gap
5/17/2010
"We need mathematicians in Springfield," said Gov. Pat Quinn at a recent speech before fellow Democrats in Winnetka, Ill. |
Don't Trust Trust Funds
5/13/2010
Quotes from Treasury, OMB and CBO about the bogus Trust Funds |
Madoff vs Social Security
4/30/2010
See the numerous comments about this comparison.
From: Sheila - This reminds me of the comparison we made of federal accounting and Enron accounting. We will re-post that comparison soon. |
Sheila Attends Peterson's Fiscal Summit
4/28/2010
Clinton says states are playing accounting tricks to balance their budgets. |
Official debt closing in on $13 trillion ($12.8 T now.)
4/16/2010
Give me your guess on when you think it will reach $13 T. |
Sheila Weinberg On 'Monsters and Money'
4/9/2010
Here's The Institute's Sheila Weinberg on CBS Channel 2 Chicago's Monsters & Money in the Morning. |
323,923 Unique Visitors to truthin2010.org in Feb.
4/1/2010
New All-Time High!!! |
Where & When Is Sheila Speaking
1/13/2010
Review Sheila's future engagements. |
Reaching New Heights
12/16/2009
27,280 unique visitors went to truthin2010.org yesterday |
Come hear Sheila speak Tuesday in Barrington
11/15/2009
LWV-Barrington Event at Cuba Township Community Room - 28000 West Cuba Road |
Sheila Weinberg On 'Chicago Tonight'
11/12/2009
The Institute's Sheila Weinberg will make another of her appearances on Chicago's WTTW Channel 11 at 7:00 CST this evening. |
Watch Ch.7 Clip of Truth in Accounting CEO
10/19/2009
Sheila Weinberg comments on the legislation Gov. Pat Quinn signed Sunday to fully fund the Illinois Monetary Award Program, or MAP. |
Visitors To www.truthin2010.org Hits All Time High
10/16/2009
October 15 unique visitors to our website hits 24,455. |
News Analysis with Elizabeth Brackett: State Budget
10/15/2009
Watch Video of Truth in Accounting's CEO WTTW's Chicago Tonight. |
Institute Chairman Appears on TV
10/9/2009
Tom Hudson, First Business, interviews Mr. Nelson about the current debt and the outlook for the future. |
How did Sheila's testimony at the GASB?
9/10/2009
An interested party asked me the following questions. |
Institute's 50-State Study On the Web
9/8/2009
Here's a reference to the Institute's work on state accounting and finances. |
Sheila Weinberg Answers an 800 Year Old Accounting Question
9/2/2009
Testimony at the GASB Hearing Recommends Recognizing Accrued Pension Liabilities |
Is the Federal Accounting Standards Advisory Board Independent?
8/31/2009
The article notes: . . (S)ome outside observers to question the independence of the board. For example, the CEO of the Institute for Truth in Accounting said at an April 2009 FASAB public hearing: “This seems like a form of jury tampering.” |
Sheila To Testify Before GASB on Firday
8/25/2009
Should A Liability Be Reported As a Liability? |
Sheila on the Radio Monday
8/9/2009
Freedom Rings Radio hosted by Kenneth John is a live call-in talk show with guests heard every Monday morning at 9AM CST on WRMN 1410 AM, Elgin, Illinois |
Truth in Accounting Videos on YouTube
8/7/2009
Watch our new videos on YouTube!!! |
Your Help Is Needed to Find Off-Balance Sheet Liabilities
7/23/2009
How much financial trouble is your state into? Unfortunately, nobody knows. |
David Walker On CNBC
7/22/2009
Our friend David Walker gives his views on the fiscal prospects of the federal takeover of health care. |
Sheila Weinberg on Channel 11 Tonight
7/15/2009
The Institute's founder and CEO will appear on Chicago Tonight that clears on WTTW Channel 11 in Chicago. This is a great opportunity to tune into Chicago's "Window To The World". |
Accounting Model Creates Systemic Risks
6/8/2009
A blog written by IFTA's founder & CEO appears on Assoc. of Gov't Accounting website. |
Truth in Accounting on Champion News
5/15/2009
THIS WEEK'S SHOW
Sheila Weinberg
Sunday, May 17th - 8AM - 9AM
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Where We Are Headed?
5/11/2009
Two Possible Nightmare Scenarios. Please let us know what you think. |
The Truth About Balanced Budgets: A Fifty State Study
4/27/2009
How can your state be balancing its budget, but going further into debt? |
Federal spending to increase by $1 Trillion in 2009.
4/17/2009
Does this scare you? |
In the Last Six Months the Feds Borrowed $3000 On Your Behalf
4/15/2009
That's for each man, woman and child in the U.S. |
Donation Online
4/14/2009
Why don't we receive donations online? |
Feds Claim Social Security and Medicare Not Liabilities
4/13/2009
Federal Accounting Standards-Setting Process: Stacked Against the Public |
Where Are We Now?
4/9/2009
It isn't a pretty picture and it is only getting worse. |
Would Gov. Quinn Budget Be Truly Balanced?
3/18/2009
The Governor continues using political math to balance the budget |
Official Debt Reaches $11 Trillion
3/17/2009
Treasury Puts the Pedal to the Metal on Borrowing |
What's A Trillion?
3/5/2009
How do we explain this massive amount to our readers? Please submit your ideas. |
Transit System In Pension Trouble?
3/4/2009
Bloomberg reports Chicago's transit system is in trouble and speculates it will foment another trillion dollar bailout. |
Up, Up and Away!
2/24/2009
Or is that Down, Down We Go?
Daily Visitors to Truth in 2008 are increasing at an astronomical rate. Unfortunately, our federal debt is also increasing at an astronomical rate.
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Gov. Quinn Needs Help
1/30/2009
The Institute for Truth in Accounting is Here to Help Get Us Out of Our $100 Billion Hole |
What's A Trillion?
1/9/2009
Hat Tip to Lt. Col. Larry Felts USAF (Ret.) |
Mark-to-Market
11/25/2008
An article supporting Mark-to-Market accounting from City Journal. |
A trillion here, a trillion there
11/11/2008
The federal government is borrowing at the rate of $500 billion a month. Are we too big to fail? |
U.S. Reaching New Heights
10/15/2008
Deficit reaches $454.8 billion.
True Debt reaches $57 trillion.
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Hat Tip to vloggerheads.com
10/14/2008
The Institute offers any blogger or web site administrator the free use of our debt counter. Here's one site which does. |
Mark-to-Market
10/5/2008
Many observers of the financial crisis have suggested suspending mark-to-market accounting rules because they have exacerbated the situation, requiring a bigger bail out. Here's a well-reasoned, contrary view. |
IOUSA Video Clips
10/4/2008
If you haven't seen the movie, here's the next best thing. |
Financial Crisis - - - You Ain't Seen Nothing Yet
10/1/2008
By Sheila Weinberg. Our country is heading toward a super-sub-prime crisis. It may be just a matter of time before the federal government hits fiscal foreclosure. |
The Myth of the Self Fulfillng Prophecy
9/30/2008
Wise observations on the curent economic conditions. |
Is America Going Broke?
9/29/2008
Now that the federal government has bailed out Fannie and Freddie, who's going to bail out the
federal government?
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Reader's Comments
9/24/2008
Here's the letter Donna Rook of Chicago sent to her Representative and Senators. |
More Questions
9/24/2008
Here are more IFTA questions about the impending bail out. |
Uncertainty and the Markets
9/23/2008
Some questions about the bailout that occur to IFTA members |
A Question From India
9/22/2008
In the last generation, the Indian economy has remarkably benefitted from "de-socializing". Some say this was a result of Indians' exposure to the U.S. economy's vitality. Now they wonder where we are headed. |
Feds Shirking Reporting Duty?
9/11/2008
When I first started to investigate federal budgeting and accounting issues I was shocked to discover that the government did not prepare consolidated financial statements until 1995. Now there is a discussion going on.... |
Chuck Norris Knows The IFTA
9/10/2008
"Black Belt Patriot" author and actor Chuck Norris mentions how he learned about the real deficit. |
Question Time
8/29/2008
Ben Alexander asks:Getting to a more personal level with the issues, what are the candidates' positions on the alternative minimum tax? |
IOUSA Review
8/25/2008
Kudos to the Peterson/Walker gang for the release of I.O.U.S.A. It is great to see I.O.U.S.A. out before the election. |
IOUSA Trailer
7/14/2008
IOUSA the movie premieres in August. See the trailer now! |
TRUTH IN 2008 PLEDGE
7/10/2008
Here is something YOU can do to start to bring the truth about our true financial condition to the candidates. |
Studying All 50 States' Budgeting Tricks
7/8/2008
How can states balance their budgets and run deficits at the same time?---An Institute study. |
Running Deficits While Your Budgets Are Balanced
5/19/2008
How do state governments claim their budgets are balanced and run hundreds of millions of dollars of deficits at the same time? |
How much will the candidates' plans really cost?
4/27/2008
Voters need to be given an honest calculation of how much the campaign promises will increase annual deficits. |
Sheila's Guest Spot on AGA Blog
4/14/2008
Wake Up Accountants! - What Can You Do About Our $53 Trillion Hole |
AWOL in Fiscal Planning
3/17/2008
Truth in Accounting's response to Steve Chapman's commentary posted at: wwww.chicagotribune.com |
A Salute to CG David Walker
3/12/2008
The Institute for Truth in Accounting commends Comptroller General David Walker on his past and future public service. He bravely went where few, if any, government officials have gone before--he told the truth to the American public. |
Washington's Truth Teller Resigns
2/15/2008
Today Comptroller General David Walker announced his retirement as of March 12. |
WHAT YOU CAN DO
1/26/2008
ASK THE CANDIDATES QUESTIONS
Here are two key questions to ask:
***What are you going to do about our $55 trillion dollar debt?***With what money will you use to pay for your campaign promises?
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Dependency on Foreigners Could Lead to Disaster
1/25/2008
Our dependency on foreign capital puts our country at the mercy of countries that may not have our best interest at heart. |
Nobody Cares About Failed Audits
1/16/2008
What if Wal-Mart, General Motors, Capital One, Waste Management, Coca Cola and Sprint flunked audits of their financial statements? |
Truth in 2008 Challenges Presidential Candidates
1/5/2008
I say the best change would be for the government to stop misleading budget practices. |
Bringing Truth to 2008 Campaigns
12/6/2007
I am pleased to announce that the launch of a campaign challenging presidential candidates to address one of our nation's most pressing issues: our skyrocketing national debt. |
Governmental Budgeting 1.1
11/23/2007
It all depends on how you count. The U.S. Treasury recently announced a budget deficit of $163 billion for the fiscal year ending Sept. 30, 2007. But how did they determine that amount? |
Dancing Around the L Word
11/2/2007
Federal Accounting Standards Advisory Board chair Tom Allen stated, |
Hynes Tells the Truth
8/5/2007
Finally the truth is being told by an Illinois constitutional officer. According to various news stories Comptroller Daniel Hynes, the state's chief financial officer, stated that the last four state budgets have been billions of dollars out-of-balanced. |
