Greg Blog

California’s financial position is deteriorating as evidenced by the downgrading of the state’s bond credit rating. This means millions of taxpayer dollars will be wasted on the payment of higher interest rates that result from the lower bond rating.

“As Treasurer it will be my top priority to improve California’s credit rating. I’ll accomplish that by working to streamline government and cut government waste.”

The state has proved itself ill-equipped to finance or manage our energy needs as is evidenced by the $43 billion in energy contracts that now appear to be overpaying current rates by 500%.

“The private sector has successfully handled California’s electricity, natural gas, and telephone needs for over 100 years. I advocate that the state get itself out of that business. The state should renegotiate electricity contracts and consider selling those contracts to third party public utilities or private corporations.”

California is confronting a mounting state deficit with no clear vision or strategic plan for future capital expenditures. Without careful planning, our infrastructure - roads, schools, public works - will further deteriorate.

“By improving California’s credit rating, I will help ensure that a greater percentage of tax dollars are funneled into areas that matter: schools, transportation, and safety. Within the Treasurer’s office, I will immediately apply proven business principles to streamline management and work with the Governor and legislature to create an effective strategic plan to finance California’s infrastructure growth.”

There are currently three state entities involved with managing California’s energy needs. This is inefficient and costly.

“I will press for the consolidation of all energy oversight into the California PUC. This will save millions of dollars annually.”