Sheila A. Weinberg founded the Institute for Truth in Accounting in 2002. With the Board of Directors, she is responsible for setting the strategic direction for the organization. The Institute’s mission is to encourage private and public entities to produce financial reports that are comprehensive, comprehensible and transparent as well as to inform the public of the importance of truthful accounting. The Institute’s initial focus was to encourage the largest fiscal organization in the world, the U.S. federal government, to become the leader in providing public and elected officials with the financial information needed to make knowledgeable decisions. The Institute has recently expanded its focus to include budgeting and accounting issues of Illinois, as well as other state governments. Weinberg works with members of Congress to bring greater transparency to federal financial reporting. |
8/28/2010
Sunday, August 29, at 8:30 a.m. Truth in Accounting Founder & CEO, Sheila Weinberg, will appear on Fox Chicago Sunday. |
8/23/2010
Institute's analysis of the state's financial report confirms Illinois financial situation is obscene. |
8/5/2010
Better late than never! |
7/31/2010
View her speech. |
7/26/2010
Pete Peterson and others are saying that our debt to GDP is 60%. Others say the ratio is 90% to 100%. Neither one is right. |
7/5/2010
It's all a Ponzi scheme. |
7/4/2010
The government takes less money in now, but may save money in the long run. |
7/2/2010
How can the country operate without knowing the amount of the huge liabilities associated with these programs? |
6/30/2010
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5/18/2010
State has not issued the financial statements for FYE 6/30/09 |
5/18/2010
On Monday it was $12,974,895,930,216.56. |
5/17/2010
"We need mathematicians in Springfield," said Gov. Pat Quinn at a recent speech before fellow Democrats in Winnetka, Ill. |
5/13/2010
Quotes from Treasury, OMB and CBO about the bogus Trust Funds |
4/30/2010
See the numerous comments about this comparison.
From: Sheila - This reminds me of the comparison we made of federal accounting and Enron accounting. We will re-post that comparison soon. |
4/28/2010
Clinton says states are playing accounting tricks to balance their budgets. |
4/16/2010
Give me your guess on when you think it will reach $13 T. |
4/9/2010
Here's The Institute's Sheila Weinberg on CBS Channel 2 Chicago's Monsters & Money in the Morning. |
4/1/2010
New All-Time High!!! |
3/22/2010
Truth In Accounting Issues New Jersey’s “Financial State of the State” |
3/11/2010
Institute for Truth in Accounting Issues Guide to Honest Budgeting |
2/19/2010
Truth in Accounting Act introduced in Illinois |
2/18/2010
Institute Issues Revised Illinois' Financial State of the State. |
2/12/2010
"Domination of the FASAB process by federal members is incompatible with board independence," says former board chair and one other member. |
1/26/2010
David M. Walker, former Comptroller General of the U.S. book discussion "Comeback America," Union League of Chicago, February 8, 2010, 11:30 Luncheon. Institute for Truth in Accounting as Event Partner. |
1/25/2010
Does the federal government owe our seniors the Social Security and Medicare benefits they have been promised? |
1/13/2010
Review Sheila's future engagements. |
12/16/2009
27,280 unique visitors went to truthin2010.org yesterday |
11/20/2009
See Weinberg's appearance on Chicago Tonight |
11/15/2009
LWV-Barrington Event at Cuba Township Community Room - 28000 West Cuba Road |
11/12/2009
The Institute's Sheila Weinberg will make another of her appearances on Chicago's WTTW Channel 11 at 7:00 CST this evening. |
10/28/2009
The Institute and Sheila are quoted in this story about an initiative to require the federal government to disclose facts about its financial sustainability. |
10/19/2009
Sheila Weinberg comments on the legislation Gov. Pat Quinn signed Sunday to fully fund the Illinois Monetary Award Program, or MAP. |
10/16/2009
October 15 unique visitors to our website hits 24,455. |
10/15/2009
Watch Video of Truth in Accounting's CEO WTTW's Chicago Tonight. |
10/9/2009
Tom Hudson, First Business, interviews Mr. Nelson about the current debt and the outlook for the future. |
10/7/2009
Nation's true debt reached more than $71 trillion at the end of the gov't fiscal year. |
9/22/2009
We are already $72.5 trillion in debt. |
9/19/2009
Warning! Our deficit will not be $1.8 trillion this year. It will be more than $12 trillion. |
9/11/2009
Sheila Weinberg will speak "at the bean" in Millenium Park on Saturday--please join her! |
9/10/2009
An interested party asked me the following questions. |
9/8/2009
Here's a reference to the Institute's work on state accounting and finances. |
9/2/2009
Testimony at the GASB Hearing Recommends Recognizing Accrued Pension Liabilities |
8/31/2009
The article notes: . . (S)ome outside observers to question the independence of the board. For example, the CEO of the Institute for Truth in Accounting said at an April 2009 FASAB public hearing: “This seems like a form of jury tampering.” |
8/25/2009
Should A Liability Be Reported As a Liability? |
8/20/2009
The Institute for Truth in Accounting raises some important questions regarding the leasing of the City of Chicago's parking meters. |
8/10/2009
Where Will We Get the Money To Pay for the Bail Outs and To Reform Health Care? The Government is printing money, why don't you? |
8/9/2009
Freedom Rings Radio hosted by Kenneth John is a live call-in talk show with guests heard every Monday morning at 9AM CST on WRMN 1410 AM, Elgin, Illinois |
8/7/2009
Watch our new videos on YouTube!!! |
7/31/2009
Your share of the nation's federal debt increases by $30,000 per person |
7/23/2009
How much financial trouble is your state into? Unfortunately, nobody knows. |
7/22/2009
Our friend David Walker gives his views on the fiscal prospects of the federal takeover of health care. |
7/15/2009
The Institute's founder and CEO will appear on Chicago Tonight that clears on WTTW Channel 11 in Chicago. This is a great opportunity to tune into Chicago's "Window To The World". |
6/8/2009
A blog written by IFTA's founder & CEO appears on Assoc. of Gov't Accounting website. |
5/15/2009
THIS WEEK'S SHOW
Sheila Weinberg
Sunday, May 17th - 8AM - 9AM
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5/11/2009
Two Possible Nightmare Scenarios. Please let us know what you think. |
4/27/2009
How can your state be balancing its budget, but going further into debt? |
4/17/2009
Does this scare you? |
4/15/2009
That's for each man, woman and child in the U.S. |
4/14/2009
Why don't we receive donations online? |
4/13/2009
Federal Accounting Standards-Setting Process: Stacked Against the Public |
4/9/2009
It isn't a pretty picture and it is only getting worse. |
3/18/2009
The Governor continues using political math to balance the budget |
3/17/2009
Treasury Puts the Pedal to the Metal on Borrowing |
3/5/2009
How do we explain this massive amount to our readers? Please submit your ideas. |
3/4/2009
Bloomberg reports Chicago's transit system is in trouble and speculates it will foment another trillion dollar bailout. |
2/24/2009
Or is that Down, Down We Go?
Daily Visitors to Truth in 2008 are increasing at an astronomical rate. Unfortunately, our federal debt is also increasing at an astronomical rate.
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1/30/2009
The Institute for Truth in Accounting is Here to Help Get Us Out of Our $100 Billion Hole |
1/9/2009
Hat Tip to Lt. Col. Larry Felts USAF (Ret.) |
11/25/2008
An article supporting Mark-to-Market accounting from City Journal. |
11/11/2008
The federal government is borrowing at the rate of $500 billion a month. Are we too big to fail? |
10/15/2008
Deficit reaches $454.8 billion.
True Debt reaches $57 trillion.
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10/14/2008
The Institute offers any blogger or web site administrator the free use of our debt counter. Here's one site which does. |
10/5/2008
Many observers of the financial crisis have suggested suspending mark-to-market accounting rules because they have exacerbated the situation, requiring a bigger bail out. Here's a well-reasoned, contrary view. |
10/4/2008
If you haven't seen the movie, here's the next best thing. |
10/1/2008
By Sheila Weinberg. Our country is heading toward a super-sub-prime crisis. It may be just a matter of time before the federal government hits fiscal foreclosure. |
9/30/2008
Wise observations on the curent economic conditions. |
9/29/2008
Now that the federal government has bailed out Fannie and Freddie, who's going to bail out the
federal government?
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9/24/2008
Here are more IFTA questions about the impending bail out. |
9/24/2008
Here's the letter Donna Rook of Chicago sent to her Representative and Senators. |
9/23/2008
Some questions about the bailout that occur to IFTA members |
9/22/2008
In the last generation, the Indian economy has remarkably benefitted from "de-socializing". Some say this was a result of Indians' exposure to the U.S. economy's vitality. Now they wonder where we are headed. |
9/11/2008
When I first started to investigate federal budgeting and accounting issues I was shocked to discover that the government did not prepare consolidated financial statements until 1995. Now there is a discussion going on.... |
9/10/2008
"Black Belt Patriot" author and actor Chuck Norris mentions how he learned about the real deficit. |
8/29/2008
Ben Alexander asks:Getting to a more personal level with the issues, what are the candidates' positions on the alternative minimum tax? |
8/25/2008
Kudos to the Peterson/Walker gang for the release of I.O.U.S.A. It is great to see I.O.U.S.A. out before the election. |
7/14/2008
IOUSA the movie premieres in August. See the trailer now! |
7/10/2008
Here is something YOU can do to start to bring the truth about our true financial condition to the candidates. |
7/8/2008
How can states balance their budgets and run deficits at the same time?---An Institute study. |
5/19/2008
How do state governments claim their budgets are balanced and run hundreds of millions of dollars of deficits at the same time? |
4/27/2008
Voters need to be given an honest calculation of how much the campaign promises will increase annual deficits. |
4/14/2008
Wake Up Accountants! - What Can You Do About Our $53 Trillion Hole |
3/17/2008
Truth in Accounting's response to Steve Chapman's commentary posted at: wwww.chicagotribune.com |
3/12/2008
The Institute for Truth in Accounting commends Comptroller General David Walker on his past and future public service. He bravely went where few, if any, government officials have gone before--he told the truth to the American public. |
2/15/2008
Today Comptroller General David Walker announced his retirement as of March 12. |
1/26/2008
ASK THE CANDIDATES QUESTIONS
Here are two key questions to ask:
***What are you going to do about our $55 trillion dollar debt?***With what money will you use to pay for your campaign promises?
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1/25/2008
Our dependency on foreign capital puts our country at the mercy of countries that may not have our best interest at heart. |
1/16/2008
What if Wal-Mart, General Motors, Capital One, Waste Management, Coca Cola and Sprint flunked audits of their financial statements? |
1/5/2008
I say the best change would be for the government to stop misleading budget practices. |
12/6/2007
I am pleased to announce that the launch of a campaign challenging presidential candidates to address one of our nation's most pressing issues: our skyrocketing national debt. |
11/23/2007
It all depends on how you count. The U.S. Treasury recently announced a budget deficit of $163 billion for the fiscal year ending Sept. 30, 2007. But how did they determine that amount? |
11/2/2007
Federal Accounting Standards Advisory Board chair Tom Allen stated, |
8/5/2007
Finally the truth is being told by an Illinois constitutional officer. According to various news stories Comptroller Daniel Hynes, the state's chief financial officer, stated that the last four state budgets have been billions of dollars out-of-balanced. |
