Category Economy

May 22 2012

The endorsements keep rolling in!

Peter Johnson (R.-Greenville), the stellar representative from the Moosehead lake region as issued his endorsement of Bruce Poliquin.  He states his reasons as follows:

“I have been most impressed with Bruce as our State Treasurer.  He came to the job with a great understanding of the fiscal problems that our State faces.  He has been tireless at addressing the problems of excessive cost in bonding, the unfunded pension liability and several issues with the wasteful spending of the Maine Turnpike Authority and the Maine Housing Authority.   His dedication to protecting the taxpayers of Maine and eliminating wasteful and unsustainable programs have saved our state millions of dollars and I am certain he will do the same in Washington.”

May 21 2012

The MCV endorses State Treasurer Bruce Poliquin

Through the Looking Glass of Adversity

The primary is nearly upon us and ‘tis the season for endorsements.  The Maine Conservative Voice has decided to endorse Bruce Poliquin for United States Senate.  Here is why.

Since the Lepage administration took office, bureaucratic elites have been running for cover as accountability’s hot light of scrutiny has been scouring the landscape of Maine State government in search of every misappropriated fund.   The flippant, frivolous and spend thrifty culture of past leadership has found that a new sheriff’s in town, who views every tax dollar as a precious commodity, the charge and the carriage of which is a sacred trust.  Governor Lepage could have found no better an individual to administrate his new culture of frugality into the bureaucratic labyrinth of Augusta than Bruce Poliquin.

From the moment he was appointed to be State Treasurer, Bruce Poliquin has executed the duties of his office looking through the prism of guardianship.  Like a bloodhound on a scent, he has demanded that every penny be accounted for, not because it is his money but because it is not his money.  Unlike administrators of the past, this treasurer understands that it is an awesome and sobering responsibility to be entrusted with the guardianship of the hard earned treasure of the many fine residents of this great State.  It is no small thing.  Thankfully, for Maine, this man has not viewed tax dollars as the means to an end, as was the callous and shallow approach for the past administrations.  He views these dollars as the means of working men and women and should be used effectively not wastefully.

Treasurer Poliquin’s dogged adherence to integrity and accountability has not endeared him to some in Augusta.  There are those that have lost their jobs.  Some are facing criminal charges.  Undoubtedly, many are trying to cover their proverbial “behinder parts” anxiously as Governor Lepage’s fiscal super sleuth keeps searching through buried lockers in search of more shady dealings.  Exorbitant credit card accounts, massages, magic shows, fortunetellers, and expensive luxury suites all on the taxpayer dime.  The media has called these revelations a “witch hunt”.  The courts have called it a crime.  It seems the courts take a dimmer view of misappropriation than Governor Baldacci and Governor King.  These administrations did not commit much capital or energy towards the ferreting out this criminal activity.  Governor Lepage and Bruce Poliquin have.

But the pattern continues at the National level.  Yes, credit cards and the like, again.  From Washington D.C, conservative legislators like Mike Lee have called on Maine to send them Bruce Poliquin to help in the fight against the mountains of corruption and redundancy in the U.S.  Capital.  His strength of will in the face of adversity is sorely needed in the halls of Washington.  I have seen this strength first hand.

I was at the Republican Convention in Portland when Bruce Poliquin was running for Governor.  Bruce was the last to speak.  Most had left the Convention floor to follow then candidate LePage out to the foyer.  The din surrounding the soon to be Governor was nearly raucous, which made it, I’m sure, difficult to speak.  I had made up my mind who I was voting for.  It wasn’t Bruce, but I stayed out of respect to hear each candidate.  What I saw left a lasting impression that I shall not soon forget.  In the face of inevitable defeat, Mr. Poliquin bravely gave his speech, with the same enthusiasm had it been a full auditorium.  He never wavered.  He was determined to finish the job.  I whispered to my wife that it takes a lot of courage to stand in the face of defeat and finish what you began.              A lot can be said about a man in victory.  But much can be said in defeat.  Everything Bruce Poliquin has done since that day has only confirmed what I saw on that convention floor.  He was a man willing to be measured by adversity.  He refused to back down against all odds.  So it is with great enthusiasm that The Maine Conservative Voice endorses our State Treasurer Bruce Poliquin for United States Senate.  His tenacity and refusal to waver on matters of finance and accountability is just the antidote to a corrupt, bloated and spend-addicted Federal Government. Please vote for Bruce Poliquin to be our next United States Senator.  Let’s turn the searchlight on Washington!

May 18 2012

There has been some lies passed on by Mike Tipping of the Maine People’s Alliance concerning the Moody’s rating. Here’s the truth from the Treasurer. Here is the truth

May 18, 2012

Augusta – Maine State Treasurer Bruce Poliquin reported that Moody’s Investors Service has affirmed the State’s Aa2 credit rating, and has revised its outlook to negative from stable.  During the past several months, the Office of the State Treasurer has led a team of state government officials in discussions with the national rating agencies to update Maine’s credit rating.

During the late spring of each year, Maine state government typically borrows money by selling bonds to investors in order to fund capital projects such as road and bridge construction and repair.  In preparation for the bond sale, the State seeks credit updates from the rating agencies.  On May 31, the Office of the State Treasurer is planning to sell $55 million of general obligation bonds that were approved by the Legislature and Maine voters during past years.  The interest and principal payments to bondholders are secured by the full faith and credit of the State.  There is approximately $490 million of outstanding Maine general obligation debt.

In affirming its Aa2 credit rating, Moody’s cited Maine’s credit strengths including its manageable general obligation debt level; rapid 10-year pay back of such borrowing; gradually increasing tax revenues; strong internally managed Treasurer’s Cash Pool; and recent reform to its public pension plan for teachers and state employees that reduced future annual payments from the State’s General Fund.

Moody’s change to negative outlook reflects Maine’s recurring challenges for the Department of Health and Human Services (DHHS) spending primarily for its Medicaid (Mainecare) program; modest Budget Stabilization Fund (rainy day fund) balance; negative General Fund unassigned balance; and slower than average economic recovery – all of which strains the State’s financial liquidity position.

Treasurer Poliquin commented, “I’m pleased that Moody’s Investors Service has affirmed Maine’s solid Aa2 credit rating.  This rating will continue to give investors confidence in the quality and security of our general obligation bonds.  Our Office anticipates strong demand at the May 31 bond sale.”

The Treasurer further commented, “I appreciate the helpful guidance from Moody’s as Maine continuously strives to improve its credit rating.  I note that Moody’s recognized the positive financial impact of state government eliminating $1.7 billion of our unfunded public pension liability last year.  This year, the rating agency acknowledges the long-term financial health of our ongoing initiative to right-size our Medicaid program.”

The LePage Administration is committed to creating a business-friendly environment to attract capital investment and private sector jobs.  This goal of long-term prosperity for Maine citizens is based on restraining state government spending; reforming public entitlements while maintaining important safety nets based on national averages; addressing long-term financial liabilities; lowering energy costs and health insurance premiums; streamlining business regulations; and investing in public education and infrastructure.