New York Approves of Spitzer's Steamrolling

2007_02_spitzerlegalpad.jpgThe latest Quinnipiac poll about New York politics shows that the public is behind Governor Spitzer and his "Steamroller Style." Sixty-one percent say Spitzer's way is "good for the people"; by gender, men like Eliot a little more than women, with 63% men approving to 57% of women. (Men like a man who gets angry!) Interestingly enough, 59% of Republicans approve of Spitzer's attitude - probably because they are enjoying his fight with Assembly leader Sheldon Silver.

Speaking of, the polls also shows that the public disapproves of the State Legislature, 48% to 31%. Silver and Senate Majority Leader Joe Bruno are at new lows with their approval rating (who was approving them to begin with, we'd like to know). As for the State Comptroller debacle, 48% of voters are undecided about the Assembly's selection of Thomas DiNapoli; 35% think the Assembly broke its word with the Governor while 18% believe DiNapoli is a legitimate pick. DiNapoli had an anthrax scare yesterday, when he received a threatening letter against him and Silver containing white powder. It was found to be not dangerous.

What has been dangerous, though, is the public sentiment after the Comptroller Chaos. The NY Times has a story about various Assembly members being deluged by calls and e-mails from constituents who are upset. Assemblyman Albert Stirpe of North Syracuse "wryly" said, "No one's ever going to vote for me again." The TImes's blog the Empire Zone published the Assembly roll calls for the Comptroller choice, so you can see who your assembly person voted for.

And the Observer has an article about Spitzer's plan to get back at Silver: Take over the State Senate, which is currently controlled by the Republicans. The Democratic Senate leader is Malcolm A. Smith of Queens, and Spitzer's people are looking to shore up support from Senate Republicans for him. The 2008 State Senate elections will be crazy!

Photograph of Governor Spitzer denouncing the selection of Thomas DiNapoli as State Comptroller by Tim Roske/AP

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If this doesn't tell Silver that his shenanigans aren't playing with the people of New York, it will just be confirmation that he is a power hungry politico who is only out for himself and doesn't give a damn about the voters. We should be able to oust people like that from office even before their terms are up when it is so blatant.

its about time someone stood up to the old boys club of corruption and cronyism that is the NY state legislature with headmasters silver and bruno. good job spitzer, don't give them any breathing room.


Governor Spitzer is showing a type of courage rarely, if ever, exhibited by public officials, But, while Tom DeNapoli is bereft of fiscal credentials, he is going to be Comptroller for the next four years. Consequently, it is important that the Governor not be discouraged from pressuring DeNapoli to discontinue the disastrous costly policies of his disgraced predecessor. Very few legislators, virtually none in the New York State Assembly, are qualified for positions such as Comptroller. Most major corporation require their Comptroller to be an accountant, many insist on a CPA. The State Attorney General must be a lawyer; the State Comptroller should be an accountant, an actuary, or a chartered financial analyst. Alan Hevesi’s, like Tom DeNapoli, lacked any of these skills. Hevesi was a political science major at Queens College. This played a significant role in the costly chaos the New York State Retirement Fund is in.
Governor Spitzer could seize the initiative by appointing a task force including an accountant (CPA preferred} an actuary and a chartered financial analyst to investigate all aspects of the Comptroller function and press the pleasant though unskilled fiscally Tom DiNapoli to accept their recommendations for reforming the State Comptroller office particularly the pension system while preventing veto power over suggested changes by Silver, Bruno and their minions
The Governor possesses an additional weapon for compelling new Comptroller DiNapoli to reform the pension system. He can reduce state and local government contributions to the pension fund ($2,782.1 million in 2006) to the same amount as government employees ($241.2 million in 2006). The benefits of equalizing the contribution level include reduced real estate taxes for county, city, and town governments plus school districts
In 2002, the state and local government contributions amounted to only $263.8 million. Poor pension fund investment policies by disgraced former Comptroller Alan Hevesi encouraged by lack of oversight by Governor Pataki and the dysfunctional state legislature; were largely responsible for the more than tenfold payment increase to the $2,782.1 million in 2006. The $142.6 billion pension fund assets as of March 31, 2006 could easily have sufficed to pay the $6.15 billion in current annual retiree benefits if invested in good safe bonds paying an average of 4.28% interest
DiNapoli can make amends for lack of oversight from his position on the Assembly Ways and Means Committee of Hevesi’s disastrous investment policies, much in risky speculative ventures. Hevesi’s stewardship of the pension fund was not only bad for the New York State budget but also for county and municipal governments forced as a consequence to raise real estate taxes and/or reduce services. The new Comptroller should be guided very carefully by Governor Spitzer but if he doesn’t the governor will be able to force his hand by insisting that state and local government contributions to the pension fund not exceed what the employees pay.

George N. Spitz
www.georgespitz.com

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