For the first time in recent memory the State Treasurer's race has gotten more attention than anything else on the Vermont ballot, and voters are faced with a clear choice: a finance professional with almost thirty-five years of experience in state and municipal finance, and a right-wing demagogue.
Just a couple of weeks ago Wilton trotted out her first line of attack: a bogus argument based on overtime pay at the Treasurer's office. In fact, even after paying overtime to one retired employee, Beth Pearce saved over half a million dollars in her first two years in office. She's reduced payroll by 7.5%, has held the line at 12 employees, and has asked Governor Shumlin to reassign over $100,000 to the Emergency Personnel fund which pays out money to the family of emergency personnel who are killed in the line of duty.
In other words, when you look closely at Wilton's claims of mismanagement what you find instead is a record of high performance and fiscal management in the Treasurer's office.
So what's next? How about attacking the Treasurer for renting instead of buying?
That's right, to hear Wendy Wilton tell it, apparently the 30% of Vermonters who rent their homes are by that fact alone disqualified from holding public office. Somehow it indicates that they “lack commitment” to the state.
Is this really a smart move? I guess if Mitt Romney can feel free to disregard the “47%” there isn't anything odd about Wendy Wilton tossing the 30% of Vermonters who rent under the bus, is there?
Then, finally, on this weekend's You Can Quote Me, which I encourage you to watch (and by the way, who would have thought Beth would be debating circles around Barack Obama?), Wilton went off on a tirade about transparency for a state web page that the Treasurer has nothing to do with, leading Pearce to wonder, with ample justification, if Wendy Wilton understands what the Treasurer does.
We know that Wendy Wilton has been bringing in the Super PAC money that's buying all those TV spots, but when it comes down to the substance of the race I'm starting to sense the smell of desperation in the Wilton campaign.
Wendy seems to have taken her aspirational model from Tom Salmon. She wants to spend her time in the Treasurer’s office revamping another department’s website. How are the taxpayers supposed to take that; especially since that other office, the one that actually is responsible for the website, is, in fact, already on the job?
Since when did plans to duplicate services represent the kind of fiscal responsibility one would expect from a treasurer?
I’m worried Wilton will keep hammering on Beth Pearce’s earnings, I think $1million dollars so far. It is kinda strange Beth hasn’t bought a house with that kind of coin. Can you think of any other statewide in recent memory who rents? Maybe she should go to the 5th floor and get some real estate tips from the Governor, I see this issue as hurting beth at the end of the day. Over coffee this morning a few of my dem buddies were like “WTF, why doesn’t see own a house??
From what I have heard around the streets and in the bars:) the polls between Wilton and Pearce are about even. I do not think that Pearce is a great campaigner:( It would be a colossal disaster if Wilton won the treasurer’s office. I’ve seen her speak before at a health care forum where she proffered her rather faulty analysis of why Vt. could not afford single-payer and nearly go off on one of those tirades when she was questioned.
Sue, I totally get all the reasons for not renting, jeez all you have to do is look at Republican manipulation of the banking/home loan industry and that’s enough there.
I went back and looked at Pearce’s comments about the rent vs home dust-up. She said what you mentioned above that she “rents for fiscal prudence”. Okay, let’s take that at face value. But as the state’s Chief Financial Officer, Pearce goes on the record that it’s better to rent instead of investing in what most people see as their most important asset – is a dangerous statement. Myself and so many others bust their ass to make a living, pay all my taxes (gladly) and
when I hear the Treasurer say I’m not as smart as she is because I bought a house….it doesn’t play well.
Pearce’s campaign doesn’t seem to be doing much with town halls or community meetings, I’m Facebook friends with her and all I see is her speaking to the choir at party events. I’d tell her peeps to get her out there more and state her very capable case because Wilton’s name id and campaign schedule are lapping the track.
JMO
From Dec. 13, 2010 Rutland Herald:
Wilton, Rutland City’s treasurer, told the gathering at South Station restaurant that the unfunded pension liability now totals $1 billion; add another $1.66 billion in unfunded health care for retirees and the total unfunded liability balloons to $2.67 billion. She said that equates to $4,000 per capita.
Some recent changes were made to reduce the liability, with employees paying more into the system. But she said “tweaking” isn’t going to solve the problem.
Wilton argued the current system isn’t sustainable and that major structural changes in pension and health care benefits for state workers and teachers are desperately needed.
She said unless lawmakers move to change the system, “this obligation will start to crowd out other important priorities, whether it’s transportation, energy, human services, public safety, I mean you name it.”
She said the pension system needs to shift from a defined benefit plan to a defined contribution plan – a move that most private sector employers have already made.
Under a defined benefit plan, the employer pays into a pension plan that pays a specified amount to a retiree based on salary, age and years of service. A defined contribution plan, such as a 401(k), combines employer and employee contributions but the payout isn’t guaranteed.
Wilton suggested that the state freeze the current pension plan and offer a blended defined benefit/defined contribution plan based on age and years of employment. New employees would be enrolled in a defined contribution plan.
When contacted to comment on Wilton’s analysis, State Treasurer Jeb Spaulding said progress has been made in shoring up the funds and that it’s a rush to judgment to suggest drastic change is needed. “I’m not convinced we have to move to a defined contribution plan,” Spaulding said.
He said as late as 2007 the state employees’ pension fund had a small surplus. He also said given the market collapse of two years ago it’s not reasonable to expect the funds