The Truth About the Balanced Budget

Publius Forum ^ | 09/07/09 | Warner Todd Huston

[Mobile Vulgus]

Truth In Accounting had an incredibly important 50 state study that needs to be broadcast far and wide. It shows the mess that every state in the union is in with the budget.

When the Institute for Truth in Accounting (the IFTA) began to design “The Truth about Balanced Budgets—A Fifty State Study” (the Study) in early 2008 our purpose was to widely examine the effect accounting principles and policies have on states’ budgeting and financial reporting practices. Experience in Illinois indicated to the IFTA that this state’s budgeting process used unsound accounting principles and evaded the intent of balanced budgets mandated by its constitutional and statutory requirements.

Now complete, the Study discovered that the budgeting and accounting problems first identified in Illinois are rampant in other states. The IFTA’s findings include:

Read the rest at Publiusforum.com...

[Mobile Vulgus]

This report shows how much criminal activity our stats budgets generate.

[Psycho_Bunny]

I wonder how many government employees and officials are going to be surprised when the seemingly inevitable second civil war starts.

[I am Richard Brandon]

Balanced Budget - Easy!

First you spend ALL the money you want on every program imaginable.

The you balance the budget by raising taxes to cover the money you just spent. Voila!

[Bhoy]

Our elected officials are crooks. They pass legislation to buy votes. The money is not properly accounted for. It is a disgrace. The bills passed at federal & state level far exceed the proper scope of government. They take over all aspects of our lives in order to skim money from some fee (for our safety) or some bureaucracy (for the sake of the children).
All of their efforts are to get elected. After they are elected their efforts turn to supporting their investments.
It is a disgrace.