Op-ed: Common CentsOctober 25, 2018
Matt Terzian writes on why he's supporting Thad Gray to be the next state treasurer.
On May 12, 2017, as I did most nights after my children went to bed, I glanced over the day’s paper. In the Litchfield County section, a story about a local man running for state treasurer caught my eye.
Immediately impressed with his background, education, and three decades of investment management and capital markets experience, I reached out to Thad Gray, asking him how I could help get him elected. Since our initial meeting, Thad has become a good friend, and I can think of no one more suited for this role.
According to the Office of the State Treasurer, the treasurer is responsible for two very important tasks that affect all Connecticut residents:
- Manage the invested assets for approximately 212,000 pension plan participants
- Issue and manage the State’s debt in a prudent and cost-effective manner and maintain the State’s credit rating agency relationships
It makes common sense to elect someone who has successfully managed the invested assets of over two million pension plan participants and has more than thirty-five years of investment and capital markets experience.
Per the Yankee Institute, there is over $10,000 of bonded debt per Connecticut resident. Additionally, unfunded pension liabilities are estimated to range from $10,000 to $35,000 per capita (Yankee Institute, ALEC, Chicago Tribune). Over the last few years, Connecticut, including Hartford, has received multiple debt downgrades. Connecticut residents are bound to these liabilities. We need the very best person to lead us out of this mess.
These daunting financial obligations are not going away; every cent needs to be reckoned with. Connecticut will need the right leadership in the Office of State Treasurer to address these challenges. No matter what your party affiliation is, the most qualified and experienced person is Thad Gray.
Matt Terzian is from Litchfield, Connecticut.
Op-eds represent the views of the author, and do not necessarily represent the editorial views of Reclaim Connecticut. If you’re interested in submitting an op-ed to Reclaim Connecticut, contact Andrew Lautz (firstname.lastname@example.org).
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