Big government and big inflation

Ron Paul | Ron Paul Institute | May 18, 2021

By Ron Paul, includes “… One way the Fed increases the money supply — and thus lowers interest rates — is by purchasing US Treasury securities.”

Taxpayer debt in Dallas, Houston and San Antonio is now even higher

Robert Montoya | Texas Scorecard | May 18, 2021

By Robert Montoya, includes “School district debts in Dallas, Houston, and San Antonio are alarmingly high at more than $7 billion. When you add these to the cities’ debts and other underlying governments, the combined debt each taxpayer must pay is $69,600. Change will only come when ‘citizen advocates’ get involved.”
 

Report on municipal pensions ought not to be ignored

Editorial | News-Gazette (Illinois) | May 17, 2021

Editorial, includes “A recent report on the financially sick status of municipal pensions in Illinois made a big splash, but not as big as it should have. As she surveys the financial wreckage that envelops state and local government in Illinois, Sheila Weinberg embraces grim reality. ”

Morning Newsfeed

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

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

WGN-TV News | WGN-TV News | May 12, 2021

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.”

Interview: Fort Worth Councilmember Cary Moon

Robert Montoya | Texas Scorecard | May 5, 2021

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

Benjamin Fearnow | Newsweek | May 4, 2021

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.”

Pennsylvania Institute of CPAs – CPA Conversations

Pennsylvania Institute of CPAs and Bill Bergman | New GASB proposals and their effect on accrual accounting | May 3, 2021

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

David Wagner | Vision Times | May 3, 2021

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

Adam Andrzejewski | Forbes | April 30, 2021

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

Steven Malanga | The Wall Street Journal | April 29, 2021

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.”

US embraced borrowing at levels which are dangerous to entire world, analyst warns

Sputnik - | The Nation (Pakistan) | April 28, 2021

By “Sputnik,” cites our recent Financial State of the Union report, and includes “… The estimate cited above is likely overblown in that payments to retirees are offset, to a substantial degree, by contributions made by employers and by employees,’ suggests Wall Street analyst and investigative journalist Charles Ortel.  (Note: Hmm)

National debt to impact Americans

Open The Books | Open the Books | April 27, 2021

2-minute YouTube video citing our latest Financial State of the Union report, text intro includes “Adam Andrzejewski discussed the real long-term value of the US national debt, which is a shocking number much bigger than $28 trillion, the value we already know.”

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