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Sheila Weinberg: Tracking and Ranking the Financial Outlook of All 50 States

October 5, 2016

Jesse Hathaway talks with Sheila Weinberg, the founder and CEO of Truth in Accounting (TIA), about a new annual report published by the watchdog group tracking and ranking the financial outlook of all 50 states.

In this episode of the weekly Budget & Tax News podcast, research fellow and managing editor Jesse Hathaway talks with Sheila Weinberg, the founder and CEO of Truth in Accounting (TIA), about a new annual report published by the watchdog group tracking and ranking the financial outlook of all 50 states.

Government finances are always a hot topic in the news as lawmakers in Chicago and elsewhere are hiking taxes on taxpayers, to raise money for underfunded pension plans that can’t pay out promised entitlements. But these problems are not just relegated to cities such as Chicago, many state government pension plans are dangerously low on funds, and many people may not even know about it.

Although some states are doing well and keeping taxpayers’ liabilities low, Weinberg says other states, such as New Jersey and Illinois are racking up big bills for future taxpayers, including taxpayers who aren’t even born yet. 

Weinberg says the first step to lawmakers seeking to solve the problems facing government today is admitting a problem exists. By reporting financial data accurately and transparently, lawmakers and taxpayers can work together to defuse the ticking overspending time bomb.

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Government Spending Taxes
Author
Jesse Hathaway is a policy advisor for budget and tax issues at The Heartland Institute.
media@heartland.org @JesseinOH