Treasurer trove
Submitted by James Protzman on Thu, 08/02/2007 - 8:30am
The race to replace Richard Moore as NC Treasurer in 2008 will be a wild one. At least three Dems who will be running (Janet Cowell, Michael Weisel and Chris Mintz), plus Bill Daughtridge and Dale Fowell from the party of greed.
I don't have a preferred Democratic candidate for this position yet, but I do have a preferred philosophy: the power of State Treasurer should not be in the hands of someone looking for higher office. It should not, in other words, be a stepping stone to somewhere else.
My reasoning is simple. A Treasurer who is running for higher office ends up making statements like the one below, which was attributed to Richard Moore by the Fayetteville Observer. In an editorial that was generally positive about the recent budget bill, Moore is quoted as some sort of voice of reason.
The downside is the upward leap of bonded indebtedness. State Treasurer Richard Moore warned that “the trend, if unchecked, could have a negative impact on our state’s credit ratings.”
On its face, the quote is okay, I suppose. Anything, if unchecked, is a potential problem. And nothing, of course, is ever unchecked. So what's the point of saying this?
I suspect Moore said a lot of other things that didn't make the cut in this piece, and I would hope some of them were about the needs of the state and the importance of funding those needs. But all I have is what got printed - and it gives me pause. It makes me wonder if the quote is a "treasurer-ish" kind of thing or whether its a "vote for me" kind of thing. And frankly, I'd rather not have to be wondering about that.
The job of Treasurer in North Carolina is singularly important. Our model, unlike other states who depend on committees of special interests, puts a great deal of responsibility in a single person. And it is a good model. States with the committee system have less transparency, more back-room deal-making, and less accountability.
But our model also demands exceptional competence and commitment.
Richard Moore has done a good job as Treasurer. But over the next year as he becomes more and more visible in his run for governor, I expect to find myself unsettled often as I try to figure out who's talking: Richard Moore the Treasurer or Richard Moore the Candidate for Governor. I don't like having to wonder about that.
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In a previous vein...
Janet Cowell's website under construction.
Michael Weisel no website.
Chris Mentz has a very complete website, an A.
One of the pitfalls of childhood is that one doesn't have to understand something to feel it. - Carlos Ruiz Zafon
Treasure Trove
Wonder why none of these candidates are interested in the State Auditor's race? The position requires similar skills, and has never been seen in NC as the political stepping stone it could be.
Sure, you'd could make some of your fellow electeds angry with a sharp-edged audit, but think of the populist appeal you could generate---
The Treasurer's race is shaping up to be another opportunity to see Dems with promising futures cannibalize each other while Les Merritt goes scott free.
Excellent point.
Be the change you wish to see in the world. --Gandhi
Apparently it's a big enough position in MN
for Al Franken to to be really happy about Auditor Otto's endorsement.
1 Thessalonians 5:21: But examine everything carefully; hold fast to that which is good.
Sam, how do you keep up with Al Franken?
n/t
Have you called to support H. Res 333 Impeach Cheney Today? call 202-224-3121 & ask for your Congress member by name
Western Union, usually. Though sometimes we use Pony Express.
1 Thessalonians 5:21: But examine everything carefully; hold fast to that which is good.
I disagree
Isn't that one of the hazards of politics, though? You're always going to have people in important positions who might (or might not) be more interested in moving up the ladder than doing a good job. I don't mind if someone's ambitious - hell, it might give them an incentive to do a better job.
From what I know about Moore's tenure as Treasurer, he's always been cautious about the bond rating. Always. 'Cause it's his job to be. He's a good Democrat, but he also is pretty much required to whine at the legislature about debt.
I like Cowell, partially because she could be an rising star. I like the idea of building a strong bench for our party. Without one, it's going to be tough to turn NC blue.
I'd normally be on the same page you are
But there's something about the treasurer's office that gives me pause. This is my ideal model for state treasurer.
Would Richard Moore have done as good a job if he wasn't seeking
higher office? Yes, most likely. But it's sure a motivating factor, and I don't think we can complain about how strong our pension fund is.
1 Thessalonians 5:21: But examine everything carefully; hold fast to that which is good.
Wasn't there some interest from Jim Harrell?
I thought Jim Harrell, III was considering running for Treasurer too. Did I just make that up (a distinct possibility these days)?
I think he is running.
Now that the session is over, I think we'll see a mass rush to run.
One of the pitfalls of childhood is that one doesn't have to understand something to feel it. - Carlos Ruiz Zafon
I think where he may have been going with that comment
is that as Governor he woudn't smile on the kind of short sighted choices we just saw made in the budget. What are they thinking giving tax cuts to the wealthy when we can't cover the debt we've got now and there are needs that have not been met except with more borrowing?
I know I'd have something to say about if I were in his shoes.
Have you called to support H. Res 333 Impeach Cheney Today? call 202-224-3121 & ask for your Congress member by name
Nothing wrong with quote
The quote (“the trend, if unchecked, could have a negative impact on our state’s credit ratings.”) does not give me pause. I think that we all agree that too much bonded indebtedness could have a negative impact on the credit rating. That is obvious.
So why did Richard Moore make a statement of the obvious? Perhaps he was asked to comment on the issue of rising debt. What else would he say?
Is this a hit piece?
Here's Bev on the Budget:
Is she speaking as Bev Perdue, Candidate for Governor, or Bev Perdue, President of the Senate? She isn't superintendent of public instruction ... at least Moore's job is to approve the debt the state takes on. */snark*
I know the above is an absurd comment, but it's no more absurd than bemoaning Treasurer Moore taking a serious look at the state budget. This piece tells us nothing about the treasurer candidates, makes a mild philosophical statement, and goes on to hit Moore.
Most public officials I know don't like COPs funding, which is behind the indebtedness. A state bond campaign would have been a wonderful opportunity to explain why we need what we need. We should be very careful about debt, since bad bond ratings make it harder to raise the money we need to cope with extreme growth.
On the subject, this is what our Treasurer said in the Dome Blog:
Is there a problem with pointing out that the citizens of North Carolina should rightfully have a voice in some things? Is it Moore's fault if the Fay Observer Editorial Board is lazy?
1 Thessalonians 5:21: But examine everything carefully; hold fast to that which is good.
Whatever.
I was trying to make a case that the treasurer's office is different and that I personally think there is much more on the line when he or she gets involved in political issues.
Frankly, having the LG pontificate on things doesn't bother me one bit. Nor does any other council of state position. State treasurer, on the other other hand, personally controls billions of dollars in investments. Competence and focus matters more to me in that particular role.
I didn't say anything negative about Moore. In fact I said I think he does a good job. I also said I would like to see a treasurer who doesn't have higher political aspirations.
If you don't agree with me, fine. You're free to change the subject . . . as you did.
To make that case, you said something unfair.
"A Treasurer who is running for higher office ends up making statements like the one below" is a negative thing to say. It says he can't seperate his job and his ambitions and it's making an unfair assumption, since when you look at the full quote, it's clear that he was saying something wonky and responsible and totally competent - the kind of thing that needs to come from a treasurer.
1 Thessalonians 5:21: But examine everything carefully; hold fast to that which is good.
Elected vs. Appointed vs. Superappointed
Okay, so I don't know what the real term is, but North Carolina might be better served if some elected officials were appointed by the current Governor (Public Instruction) while others were "Super Appointments" that were not meant to change every Governor (think Alan Greenspan, or FBI directors, or head of OMB maybe?). I don't know a hill of beans about how these positions are appointed, but they seem to last from one administration to another, and that might be a good way for the Treasurer to be appointed.
One of the pitfalls of childhood is that one doesn't have to understand something to feel it. - Carlos Ruiz Zafon