‘Truth in Accounting’ Awards 10 States “F” Grades
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Tags: Breitbart News, budgets, California, Chriss Street, states, Truth in Accounting
A new financial review awarded “F” grades to 10 states that did not have balanced budgets and have taxpayer burdens of over $20,000 per year.
The bi-partisan Truth in Accounting (TIA) review plows through the voluminous comprehensive annual financial reports (CAFRs) for each of the 50 states to determine their solvency and burden on taxpayers, and awards them appropriate letter grades.
TIA found that for the 2017 fiscal year, 40 states did not have enough money to pay all their bills, because: “elected officials have not included the true costs of the government in their budget calculations and have pushed costs onto future taxpayers.”
TIA divides the amount of money needed to pay bills by the number of state taxpayers to come up with the Taxpayer Burden™. If there is net money available after bills are considered, the funds are divided by payers to calculate Taxpayer Surplus™.
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Certainly California is top of the list of those with a whopping big F.
Not according to this article.