Mar 22 2008
Weekend Profile: North Carolina Treasurer Candidates
David Young (D)
Buncombe County Commissioner
As a businessman, elected official, and education leader, David has a solid record of management experience. He understands the power and responsibilities of the Office of State Treasurer to:
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- wisely manage the state’s financial resources
- maintain North Carolina ’s AAA bond rating
- honor the state’s commitments to its current and retired state employees
- use the resources of the state to create opportunities in education, health care, and economic development
David Young is currently a Commissioner of Buncombe County. He stresses the successes of county government, during his tenure, of fully funding employee pension commitments while simultaneously cutting property taxes. He served as Chairman of the Buncombe County Economic Development Commission. He seems to have quite the knack for business as he is also a small business owner. Furthermore, he sits on the University of North Carolina Board of Governors and oversees the $6 billion budget for all UNC campuses across the state. Not a bad resume at all and it sounds like he could get the job done.
Janet Cowell (D)
State Senator - District 16
Janet Cowell is currently a North Carolina State Senator serving the 16th Senatorial District which covers the state capitol of Raleigh in Wake County. She highlights the following points as to where she stands on the issues:
- Earn consistent returns on investments
- Ensure an open, transparent, and accountable Treasurer’s office
- Protect Full Funding of the Pension System
- Preserve our AAA Bond rating through prudent debt management
- Continuously improve customer service
- Establish an enhanced investment advisory board
- Achieve higher investment returns from Treasury Investment Professionals
- Advocate for a voluntary public financing program for future candidates for State Treasurer
- Reach out to minorities and historically underutilized businesses
Cowell has the endorsements of several far left special interest groups, which should make you run for the door screaming right off the bat. If the AFL-CIO is sticking their hands into the campaign, then it can’t be good for business and right now North Carolina has a good thing going with its business climate. I just think in general that the person with all the big endorsements from special interest groups probably isn’t going to be too worried about looking out for you once they’re in office, but rather paying homage to those that financed their way to power. I don’t know Cowell, so I’m not saying that she would necessarily do that, but it’s something to keep in mind.
Two of her issues in particular bother me. I am not an advocate of public financing of elections. It’s bad enough these people pick our pockets for their self aggrandizement once they get into office, so now we’re going to let them to do it while they’re still running for the privilege? That’s like a rape victim giving her attacker a Viagra right before he starts to violate her.
I’m also not comfortable with the reaching out to minority owned businesses platform either. We will not ever achieve real equality among citizens in this country if we don’t stop institutionalizing advantages based on someone’s ethnicity, gender, or what ever other classes of victims they have come up with these days. Everyone has to be on a level playing field.
Michael Weisel (D)
Attorney
Michael Wiesel is an attorney at law with the firm Bailey & Dixon LLP in Raleigh. He has previously held several prestigious financial positions ranging from a trustee on a few of North Carolina’s employee pension funds to Vice-President of Equity at Wells Fargo Bank. He holds the following views:
- Protect the Pension of North Carolina’s Current and Future Retirees
- Maintain North Carolina’s AAA Bond Rating
- Make Financial Literacy a Top Priority
- Fight Payday and Subprime Lending
- N.C. Emerging Managers Mentoring
- Create Affordable North Carolina Multi-Family Housing
- DreamStart Mortgage Loan Program
I like his notion that we need to improve financial literacy. I don’t know exactly what platform he envisions for teaching this, but in my opinion it should be done in high school. Every student should have to go through a financial literacy class that encompasses credit cards, loans, debt management, and budgeting. Way too many Americans are buried in debt because they live beyond their means.
Bill Daughtridge (R)
State Representative - District 25
Bill Daughtridge is a State Representative serving the 25th District which covers Nash County. He is the only Republican running for the Treasurer’s office and therefore is the only candidate who will definitely be on the ballot in November because he has no primary opposition. He lays out an agenda of economic growth and improvement to education.
The Daughtridge Economic Growth Agenda
- Expand and Enhance State Infrastructure
- Promote Fiscal Accountability
- Safeguard Pension Funds
- Advocate for Citizens
- Encourage Research and Development
- Curb Runaway Government Spending
- Develop Human Capital
The Daughtridge Education Agenda
- Lift the cap on charter schools
- Transform failing high schools
- Fully fund community colleges
- Support public-private education success
Curbing runaway government spending needs to be a priority of everyone running for office. North Carolina’s legislative spending has been skyrocketing over the past few years, well beyond the rate of inflation. The state is experiencing a boom right now with people and business moving in, but the bureaucrats in Raleigh are setting it up to sing the same swan song down the road like many states in the northeast are currently experiencing.