truth in accounting

Chicago’s Debt Is Worse Than You Thought

Is Mayor-Elect Lori Lightfoot considering bankruptcy? How does Chicago have the highest taxpayer burden even though we have balanced budget requirements? Truth in Accounting Founder, Sheila Weinberg joins Dan and Amy to discuss their new report on the biggest taxpayer burden in major metro areas.

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Chicago Receives Another ‘F Grade

How much would each taxpayer in Chicago need to send to city hall to break even? $36,000. That isn’t even including Chicago Public Schools or Park District's costs and debts. Is the city running out of backs to put the city’s pension debt on? Are politicians and mayoral candidates coming up with different schemes to kick the can down the road instead of fixing the problem now? Founder of Truth in Accounting, Sheila Weinberg joins Dan and Amy to discuss their latest "State of the Cities" report.

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“Everything Is Fine”- IL Gets Another F For Financial Health

How does Illinois stack up against our midwestern neighbors? Where are we going to find more money to prop up the status quo? If we liquidated everything would we even be able to pay off the pension liabilities? How did we get to the point where our debt is at $50k per taxpayer? TruthinAccouting.org's Sheila Weinberg joins Dan and Amy with a new report on IL's financial health. 

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IL Deserves Lower Than F Grade

Is everyone in the state willing to write a check for $50,800 to send to Springfield to catch government up with its unfunded pensions? Not to mention the City of Chicago’s pension debt and the other 651 cities in Illinois not funding theirs. Founder and CEO of Truth In Accounting, Sheila Weinberg joins Dan and Amy with an updated financial picture of Illinois in all of its gory detail.

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Assessing Republican And Democratic Leadership In IL

Mike Madigan was just re-elected to a record sixth term as chairman of the Illinois Democratic Party, a position he has held while also reining as House Speaker. Though his track record has been disastrous for the state, are the current leading voices in the Republican Party effective at offering an alternative? On this edition of Illinois Rising, Pat Hughes and Brian Timpone discuss Madigan's leadership in his party and how one of Bruce Rauner's prominent surrogates is off base attacking conservatives. They also get expert analysis from Truth in Accounting CEO Sheila Weinberg on the pension crises in Harvey, North Chicago and throughout the state of Illinois.








Chicagoans, You Each Owe $45k

What is the common thread between cities with poor financial standings besides having Democrats as mayors? How is Chicago going to pay off $36 billion in unfunded pension liabilities when that number is 5x the City’s annual budget? In order to begin trying to tackle the debt in Chicago, city officials must either raise taxes or spend less. What is tax and spend Tiny Dancer going to choose? Founder and CEO of Truth in Accounting, Sheila Weinberg joins Dan and Amy to discuss a new report on the financial stability of the nation's 75 most populous cities.

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Chicago’s Financial Condition: ‘F’

Chicago is the worst governed major city in America. In order to pay off the city’s debt, it would require $41,700 per taxpayer. Why is Mayor Tiny Dancer allowed to come out and say he created a balanced budget in 2016 when it actually ran a $3.6 billion deficit? Is it time for Chicago taxpayers to finally hold their elected officials accountable before the city goes completely under? Founder and CEO of Truth in Accounting, Sheila Weinberg joins Dan and Amy to discuss.

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You Could Buy 16,310 Hot Dogs With Illinois’ Taxpayer Burden

Good news for Illinois, we got a raise last year. Our per capita taxpayer burden increased 11% and we’re now the 2nd worst. But don’t worry,  it’s only getting worse from here. Founder and CEO of Truth in Accounting, Sheila Weinberg joins Dan and Amy to discuss the tax burden in Illinois, otherwise known as the sinkhole state.

Illinois' Financial Grade: F

Why is Illinois' financial grade an F? Are the bond agencies taking too rosy a view of our finances? How does Illinois have $200 billion in debt with a balanced budget requirement in the Constitution? What does this mean for the 2018 gubernatorial election? Sheila Weinberg, Founder & CEO of Truth in Accounting, offers the facts on Illinois' finances to Dan and Kristen McQueary, Chicago Tribune editorial board member, who sits in for Amy Jacobson.


Truth in Accounting’s Look at Illinois Financial Picture: Every Taxpayer Owes $45k On State Debt

TIA Founder Sheila Weinberg joined Dan & Amy this morning with an updated look at Illinois' finances: More than $200B in debt and less than $26B in assets.

How does this compare with our neighbor to the east? How does this compare with another mismanaged state w/ a hostile business climate named New York?

For more click here

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