Thursday, October 11, 2012
Jim McIntire has done an outstanding job as treasurer in his first term in office.
McIntire, a Democrat, was elected in the fall of 2008 just as the financial crisis caused stock markets to plummet and the Great Recession cut the legs out from under the economy.
Yet, McIntire has been able to keep the state's investments on track while making the Treasurer's Office a more efficient operation. For example, McIntire put in place a plan that saved the state $1.4 billion in new interest costs on state debt. By investing the state's pension funds wisely his office has made it one of the five top performing pension funds in the nation.
The work done by McIntire in his first term is impressive.
McIntire's challenger, Sharon Hanek, appears to be a fine accountant but she doesn't have the breadth and depth of experience of McIntire. Hanek, a Republican, owns a tax and business advisory service and has volunteered to be treasurer for nonprofit organizations.
Hanek's vision for the Treasurer's Office is to expand the office's role to provide more oversight to make state government more efficient. Why? The treasurer is responsible for state money management. We don't need the Treasurer's Office and the Auditor's Office and the Governor's Office overseeing efficiency.
We need people doing their jobs. And McIntire is doing that -- and doing it well. He is making sure the state gets the highest return possible on its investments and he is protecting the state's credit rating so when projects around the state are financed by bonds -- including local school projects -- the interest rates are favorable to taxpayers.
While the past four years have been financially challenging, the next four might not be any easier to navigate.
It's critical the state have a treasurer with a solid record of success and a clear grasp of what needs to be done.
We urge voters to re-elect McIntire to a second term. He has earned it.