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Treasurer Martin Updates Grassroots Conservatives
By Howard Levine
GOPUSA News
September 16, 2009
State Treasurer Dean Martin spoke to the Pachyderm Coalition, a Reagan Republican political organization, about a wide range of issues including the state budget, state financial operations, the overall economic outlook, and real estate values.
Martin reminded people that he instituted an 'Early Warning Chart' to help project when the state will run into financial difficulties well in advance in order to have more time to avert serious problems such as the state government is now facing. Unfortunately, former Governor Janet Napolitano, a Democrat, ignored his warnings and failed to work with the legislature to make smaller changes early in order to avoid a major disaster later. He said that his experience with confronting Janet Napolitano with facts and holding her accountable for funds she was responsible has firmly convinced him that the State Treasurer should definitely remain an elected position rather than be appointed by the Governor. An appointed Treasurer serving at the pleasure of the Governor would not be able to hold government officials responsible for fulfilling their fiduciary responsibilities because he would not be able to act independently on behalf of the voters.
Another topic Martin talked about were cycles in real estate values. He said that there are usually 4 years of growth followed by 3 years of decline. Also, the commercial real estate market typically lags behind the residential market by 1-2 years due to more time needed to get building permits as well as the scope of the building projects. Martin believes that the residential market will bottom out by the end of this year and recover slowly. Unfortunately, the commercial market will continue to decline for another 1-2 years before recovering.
For most of the time, Treasurer Dean Martin was answering questions posed by the audience of over 60 political activists. He explained some of the issues regarding the Governor's recent budget vetoes including how vetoing the repeal of the State Equalization Property Tax actually required additional money to be appropriated by the state government to retain Federal stimulus money instead of actually helping to reduce the state government deficit. He said he did not understand how that would be helpful to the state government or to taxpayers. Martin also talked about some problems with how the Federal government is financing its overspending comparing it to getting a sub prime adjustable rate mortgage with a low initial rate that will rapidly increase as the economy tries to recover. He anticipates double digit interest rates and inflation if the Federal government stays on its current financial course.
At the end of the meeting, some people 'jokingly' asked about Dean Martin's plans to run for Arizona Governor. He cheerfully responded that he would talk about that next January. This was a reference to Arizona's resign to run law which would require him to resign as Treasurer if he announces a candidacy for a different office before January 2010. He is currently a candidate for re-election as Treasurer, but there are many Republicans urging Martin to run for Governor in 2010 due to immense dissatisfaction with the current governor, Jan Brewer, a Republican, over state budget issues and her bad relationship with the Republican led legislature.
Copyright 2009 GOPUSA News. All rights reserved.
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