This made Maryland one of 13 “turkey states” that had more expenses than revenues in fiscal 2012. The list includes all of Maryland’s neighbors except Virginia.
“They circumvent the balanced budget requirements” with accounting gimmicks, said Sheila Weinberg, founder and CEO of the Institute for Truth in Accounting. This watchdog group has long maintained that states do not accurately represents their expenses, revenues, assets and liabilities. The Comprehensive Annual Financial Reports require all states to follow the same accounting rules.
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3 comments:
Better raise existing taxes, and create more. Hey, that air you breathe isn't yours...it belongs to MD and O'Malley.
O'Malley calls this "Investing", not spending, you silly troll! Now put that pencil down and step away from that calculator!
Again, look at the Democratic leadership.
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