WBGZ Radio 4/8/2021 |
By Cole Lauterbach - Illinois Radio Network
Even though the state’s Constitution requires it, Illinois hasn’t passed a truly balanced budget in decades. The state’s former comptroller says the situation has worsened to the point of bankruptcy if it were allowed.
Former Illinois Comptroller Leslie Munger, in a presentation to the Governmental Accounting Standards Board last month, said politicians aren’t generally accountants or economists and often approve of mathematical slights-of-hand to claim they’re passing balanced budgets.
“It allows them to look at things and think they’re balanced and this is how we end up with a mess,” she said.
Normal, IL, USA / www.cities929.com
Apr 6, 2021 12:44 PM
(The Center Square) â Even though the stateâs Constitution requires it, Illinois hasnât passed a truly balanced budget in decades.
The stateâs former comptroller says the situation has worsened to the point of bankruptcy if it were allowed.
Former Illinois Comptroller Leslie Munger, in a presentation to the Governmental Accounting Standards Board last month, said politicians arenât generally accountants or economists and often approve of mathematical slights-of-hand to claim theyâre passing balanced budgets.
âIt allows them to look at things and think theyâre balanced and this is how we end up with a mess,â she said.