Treasurer announcement color commentary

I have to say that the choice of Beth Pearce to be the new Treasurer surprised me. I have to say that because I’d never heard of her before the announcement. That’s a pretty pure surprise.

A few takeaways from the press conference. First, Pearce comes off as very likable, affable, and well-spoken. One gets the sense she isn’t completely at home in front of the press yet, but it won’t be long at all before she is. She also made it quite clear that, in her words, she is in this for “the long haul,” meaning a run for election in 2012, even if it was clearly not the place to answer the question directly.

Pearce was asked by reporters about being a part of closing the gender gap in government, a subject first broached by the media in the context of Shumlin administration appointments at this site last week. Pearce replied that the gap would be closed with “hard work and achievement,” which is only something right wingers with the biggest chips on their shoulders should not be able to appreciate (although the rest of us understand that it takes a bit more than bootstrapping to overcome institutionalized discrimination).

The other point of interest came when the three at the podium – Pearce, Administration Secretary-in-waiting Spaulding and Governor Elect Shumlin were asked about the ongoing matter of the state’s pension funds and the ongoing financial crisis. Pearce referenced the, as she said, “win-win” deal Spaulding had made with the NEA on teacher’s pensions (which averted a high profile showdown with the Legislature and Governor Douglas, the latter of whom was clearly salivating for such a showdown) and waxed optimistic about finding similar accommodation with the VSEA and the Troopers union.

It was at this point that the easy-going, comfortable and nimble way with reporters Shumlin clearly has come to possess contrasted with the less-polished stylings of outgoing Treasurer Spaulding. Spaulding was well-spoken, but always seemed mildly annoyed with the reporters asking questions. This generated the only, shall we say, non-light-hearted moment of the press conference, when a questioner followed up, wondering if the new Treasurer could expect particular resistance from VSEA on amending pension arrangements, given that they were likely to feel that they already went through all this just a couple years back.

Spaulding took the mic to respond, and virtually the first words out of his mouth were “that was then, this is now.”

Ouch. The emergence of bad cop rhetoric in the room was unexpected and stood in contrast with the other remarks. That may have been the extent of the tense vibe, but unfortunately, it was very much what sound bites are made of.

And in fact, Spaulding is going to have to tread very carefully here. Critics will undoubtedly raise eyebrows questioning the independence of the Treasurer’s office in light of Spaulding’s move a mere one floor upstairs in the Pavilion, his Deputy’s promotion to the top spot (a Deputy who repeatedly referred to the outgoing Treasurer as her “mentor”), and the concurrent announcement that Spaulding’s Deputy would be Michael Clasen, the current Director of Retirement Operations in the Treasurer’s office. One can expect to hear questions as to whether this independent Constitutional office won’t be being run from the Governor’s office a mere flight of stairs away.

But, of course, there’s no command-and-control relationship where everyone’s on the same page. Given that Treasurer Spaulding’s team will essentially remain whole, just spread out between two offices, suggests there will be consensus on matters that cross both office’s agendas. Nobody’s driving anybody else if all look at the issues the same way and come to the same conclusions. Without question, under this schema, the two offices will interact seamlessly and efficiently as never before.

Whether or not that’s a good thing may well depend on whether or not you have a state pension coming under the gun, and how those discussions flesh out.

2 thoughts on “Treasurer announcement color commentary

  1. I am one of the employees who held my nose and voted to make the switches in 2007 that Mr. Spaulding came and asked us to. He kept saying this had to happen and if it did we would be in good shape for a while. Then rich Wall Street assholes screwed it all up and I’m going to get stuck holding this sack of crap again? My union told me that our state leaders agreed to up the money we pay to our pension investors by $2 mil between 2007 and 2010. Did we give them more money so they could lose more of our money? WTF is that all about?

    I made changes in 2007 that took more money out of my family’s pocket. I said okay to cutting my pay by 3 percent. What else can I do? I’m not like Mr. Spaulding. I wasn’t born with a silver spoon hanging out of my mouth. I have kids to feed and cloth, a house to pay for and a job that barely makes ends meet. You can’t bleed any more money out of me. Stop it. PLease.    

  2. was a key refrain from the soon-to-be-over Douglas administration as he forced state workers to take pay cuts.

    The way to share the pain is through the income tax to all folks that are doing OK, not by singling out only particular groups.

    That concentrates the pain, it doesn’t share it fairly.

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