Sheila Weinberg Speaks at the State Policy Network Annual Meeting

From The Institute for Troth in Accounting…

Two weeks ago, Truth in Accounting CEO, Sheila Weinberg, had the opportunity to speak at the State Policy Network in Cleveland, OH. State Policy Network is the largest gathering of state think tanks from around the country. Sheila addressed attendees on the importance of using accurate accounting when calculating balanced budgets. She emphasized how it is currently impossible for citizens to hold lawmakers accountable, because citizens are not given the facts about the financial impact of elected officials’ decisions. The speech struck a chord with audience the members, some of who were hearing this for the first time.

Sheila advised the group: ‘Governments have been able to expand because the public has not been told about how much things cost. If elected officials had to balance the budget using truthful numbers, people would be outraged by how much government costs and the taxes they have to pay for the government they are getting.’
‘I guarantee if elected officials had to truly balance the budget using FACT based budgeting, they would have not enhanced retirement benefits, because they would have had to come up with the money to pay for them.’

‘If a government made taxpayers pay for the amount of value the pension plan assets lost because of a downturn in the market, taxpayers would really understand the risks involved in defined benefit plans.’

‘Because elected officials can hide the true costs of government, the public does not have an idea of the true size of their government’s financial problems. ‘

Our lawmakers must know the facts before they make decisions, and that is what Truth in Accounting is all about.

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