Watchdog Disputes Maryland's Budget Balance, Citing $21.5 Billion Cumulative Deficit
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What happened
Wes Moore insists that Maryland's budget is balanced and that his administration is fiscally responsible, noting that the state has cut taxes for the middle class and military families. Sheila Weinberg, founder of Truth in Accounting, disputes this, stating that Maryland's books show a current deficit of $2.9 billion and a cumulative deficit of $21.5 billion. Weinberg also criticized the state's use of cash-basis accounting, arguing it does not provide a complete picture of the state’s financial obligations.
From foxbaltimore.com
Why it matters
The dispute centers on the financial health of Maryland, as Weinberg argues the state's accounting methods are flawed and do not fully reflect its financial obligations. This scrutiny is occurring amid an investigation into the state's structural shortfalls.
An investigation is currently scrutinizing the financial health and structural shortfalls of the Maryland government.
From foxbaltimore.com
Who's involved
- Sheila WeinbergFounder of Truth in Accounting who disputes Maryland's financial claims.
- MarylandThe state whose budget and financial claims are under scrutiny.
- Wes MooreGovernor of Maryland, who asserts the state's budget is balanced.
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The entities involved
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Sheila Weinberg
Nothing else this week.
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Maryland
state of the United States of America
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Wes Moore
American politician, investment banker, author and television producer