Wednesday, December 23, 2015

Walker's truth and budget GAAP

The Walker people under his name threw out a blatant propaganda op-ed a few days claiming that the state was moving in the right direction. A comeback, he called it.

These kinds of op-eds, news releases and various other self-serving, cotton-candy pronouncements are his standard precursor to the some other shoe having dropped, or about to fall, and yup, here it is: 

Under Generally Accepted Accounting Principles, or GAAP, the Walker budget is running a growing deficit, as explained by Wisconson Public Radio:

Using Standardized Accounting Principles, State Budget Picture Worsened Last Year
GAAP Deficit Grew From $1.4B To $1.8B In Fiscal Year 2015
Meanwhile our leaderless state remains mired in bottom tier of job development. 

Some comeback.


Anonymous said...

Sadly Walker 5 years ago promised to use GAAP as he said it was the only true way to budget. He threw it out when his budgets went to red ink and now won't allow it to be used. He refuses to acknowledge bills due at the end of the year and beyond as if they didn't exist so his budget stays black or only a little red. Watch for him to start selling state assets...remember his Republican legislature gave him that power years back!

Anonymous said...

What does anyone expect from a moron that ran his million dollar presidential war chest 1 million in the hole in 2 months. His failure is historic.

He owes the state tens of thousand of dollars, but don't expect his media friends to tell you the truth about that.

Fiscal responsibility from this habitual liar?

Yvette9b said...

GAAP has been the only way to show accurate balances and thus be able to do accurate financial forecasting.

Anonymous said...

And how much state funding has the DNR spent foolishly on the city of Waukesha's (Waukesha County Republican profitters)Lake Michigan Diversion Application to keep growing this massive debt?