Connecticut is electing a State Treasurer, normally an office that does not stir a lot of political interest but this is 2010 and the economy is a major issue. We have all heard the expression “follow the money” unfortunately too much of our money has been leaving the State of Connecticut. The pickpockets of special interest have been reaching into the wallet of taxpayers for years. So today we take a look at who will be handling our tax dollars as the next State Treasurer.
It looks like the choice will be between incumbent Democrat Denise Nappier and Republican Jeff Wright. Nappier’s website does not indicate any formal training in financial matters but does say she has a Masters Degree while Wright’s website indicates he has a degree in economics and is a Certified Financial Planner.
Now let’s take a look at the issues we face and the views of the candidates, the source for this information is from the candidates websites:
Nappier claims: “Through strong management and innovation, she has reduced the financial burden on taxpayers in meeting the State’s financial obligations and has made improving the fiscal fitness of Connecticut’s families a cornerstone of her administration’s work.”
Wright response: Unfortunately, the fiscal foundation of our once-great state has been crumbling for the past 12 years under the neglect of our current Treasurer, Denise Nappier. Connecticut has the highest debt per man, woman and child in the nation. Robbing future generations of opportunity, while saddling the taxpayer with a mountain of debt.” Sounds to me like the man makes a good point here.
According to Nappier’s website “Treasure Nappier is one of the nation’s leading institutional investors advocating for responsible corporate behavior that effectively manages risks and protects long-term shareholder value and the health of our economy.” This is an interesting statement when you read the facts from Mr. Wright’s website, “Connecticut’s pension fund has only earned an average of 3% over the past decade. Our educational savings plan has been outperformed by 90% of other states’ plans over the past year and 80% over the past five years. The Pew Institute ranks Connecticut’s pension as the fifth worst funded pension in America.”
Reading Nappier’s highlights for promoting economic growth was more like reading highlights for a program of social engineering than economic growth. It is no small wonder that with her vision for economic growth that Connecticut is one of only two states that has not had net job increases over the past decade. (Michigan is the other)
Reading Wrights vision of our future if we elect Nappier is an eye opener, “Connecticut has at least $40 billion of unfunded liabilities and over $20 billion of bonded debt. Connecticut’s credit cards are maxed out and melting. Unfortunately, these realities seemed to be lost on Denise Nappier. In her re-election bid, she proclaims that we must, “continue the work of improving the State’s financial health.” This suggests that she wants to stay the course of financial disaster for Connecticut.
After all things are considered Mr. Wright with experience in municipal affairs, (Mayor of Newington) educational background, and a career in financial planning is the candidate that deserves the support of Connecticut voters. Mr. Wright as a former Marine, given the mission will be Connecticut’s Cash Cop protecting the wallet of the taxpayers.
If you can make it out to Georgina’s Restaurant in Bolton on Thursday May 27th from 6:30 until 8:30 Jeff is having a meet and greet. While there is no ticket needed to attend Jeff is in need of contributions to qualify for election funding and I am sure he would appreciate any contribution. In the world of election finance today a small contribution is very important and can go a long way toward the qualification for the election funding qualification. The maximum individual donation is $100.00 and in this case it is an investment to protect your wallet and the future of Connecticut.