By: Mark Glennon*
This is simple but fundamentally important.
If you don’t know that state and local budgets are deceitful and nearly meaningless, or you don’t know why that’s so important to understanding our crisis, spend a few minutes watching the video linked above.
It’s a segment from a panel discussion in which Sheila Weinberg, Founder and CEO, Truth in Accounting, explains in simple language.
“The main reason we are in a budget crisis is our governors and legislators have chosen to use political math to calculate the budget instead of truth in accounting.”
It continues unchallenged by most of the media.
Weinberg’s remarks are focused on the state budget, but they apply fully to Chicago, Cook County and many other municipalities, which endlessly claim to have balanced budgets. The truth is we are bleeding red like stuck pigs at all levels of government in Illinois.
*Mark Glennon is founder of Wirepoints. Opinions expressed are his own.