Watch Truth in Accounting CEO on WTTW Ch. 11 7:00 p.m. Tonight

November 12, 2009 | Filed Under Budget, Chicago, Cook County, Democrats/Leftists, Economy/Finances, Government, Corruption, Illinois, State Government, Warner Todd Huston |

Chicago - Sheila Weinberg, Founder and CEO of the Institute for Truth in Accounting, will be featured on Chicago Tonight - WTTW Ch. 11 this evening (November 12) 7:00 p.m. CST. The segment will highlight the budget gimmicks that have heightened Illinois’ current financial crisis. You can also watch the live telecast online at: http://www.wttw.com/main.taf?p=42,9

Eddie Arruza, Chicago Tonight’s host, will be discussing with Weinberg and the other panelists Beyond California: States in Fiscal Peril, a study recently issued by the Pew Center on the States. This study highlights that Illinois’ budget gap is by far one of the worst in the country.

Prior budget gimmicks have heightened Illinois’ current financial woes. These budgeting shenanigans include floating bonds to pay pension obligations, reliance on borrowing and paying bills late.

“The first thing we need to do to get us out of our financial mess is to be honest,” recommended Weinberg. “How much debt does the State really have? How big is the current deficit including the true cost of State programs and benefits? And how can the budget be truly balanced, if we have to borrow money or don’t pay our bills? ”

According to the most recently issued financial report dated July 10, 2009, prepared by Comptroller Dan Hynes, the Institute has determined that as of June 30, 2008, the State of Illinois was more than $82 billion in the red.

You can learn more about the Institute and Ms. Weinberg’s team at www.TruthInAccounting.org.

About the Institute for Truth in Accounting

The IFTA is dedicated to promoting honest, accurate, and transparent accounting at all levels of government and business. As a non-partisan, non-profit organization, the IFTA works to expose accounting deficiencies while promoting better, more accessible delivery of accurate government financial data-and, in turn, providing a foundation for more informed public policy. The IFTA provides its expertise to develop more effective accounting standards and deliver accurate government financial information to policymakers, opinion leaders, and citizens, so they can all work for a more secure financial future. To learn more, please visit our websites at www.TruthInAccounting.org and www.TruthIn2010.org.

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