By IL Radio Network
Springfield, IL – STATE GOVERNMENT IS WORSE OFF THAN YOU THINK...
THAT'S ACCORDING TO THE GROUP INSTITUTE FOR TRUTH IN ACCOUNTING. GROUP FOUNDER AND C-E-O SHEILA WEINBERG SAYS SHE SEES A NEARLY $70-BILLION HOLE IN THE FISCAL YEAR 2007 REPORT, WHICH JUST CAME OUT LAST WEEK.
SHE SAYS THE REPORT ONLY HINTS AT THE $24-BILLION IN LIABILITY FOR POST-RETIREMENT BENEFITS FOR FORMER STATE GOVERNMENT EMPLOYEES, BUT LAMENTS THAT THE REPORT DOESN'T PUT THAT LIABILITY IN THE BALANCE SHEETS. WEINBERG SAYS LAWMAKERS AREN'T TAKING THOSE COSTS INTO CONSIDERATION WHEN THEY'RE VOTING ON A BUDGET.
WEINBERG ISN'T HAPPY TO HEAR THAT GOVERNOR ROD BLAGOJEVICH THINKS THIS YEAR'S BUDGET IS MORE THAN TWO BILLION DOLLARS IN THE HOLE.
SHE WARNS STATE LAWMAKERS TO CAREFULLY CONSIDER MONEY-MAKERS, LIKE SPECIAL FUND SWEEPS, BECAUSE SHE SAYS THAT MONEY SHOULDN'T BE CONSIDERED "REVENUE." SHE ALSO POINTS OUT THAT THIS YEAR'S PROJECTED BUDGET HOLE WON'T TAKE POST-RETIREMENT BENEFITS INTO ACCOUNT EITHER.
THE BUDGET FOR THE FISCAL YEAR THAT STARTED LAST WEEK HASN'T BEEN SIGNED BY THE GOVERNOR YET.
