Vote 2002
Candidates promise better investments
Coffman tries to retain control of state treasury
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by Staff (Editorial@boulderweekly.com)

Mike Coffman (R, incumbent) is a University of Colorado graduate who served in both the Colorado House of Representatives and the State Senate before becoming state treasurer. While in office he has successfully cut the Treasury Department's budget, developed a $100 million plan to spur economic and job growth, and developed the private sector college savings program Scholar's Choice, which is recognized as one of the best of its kind in the country.

If re-elected, Coffman will implement his economic development plan, work on ending special interest tax credits, and put into place a "Rainy Day" fund to help the state budget during lean times. Recent economic straits in Colorado inspired the "Rainy Day" fund, which the treasurer believes will benefit the local economy during the next economic downturn. Coffman describes the program as "a mechanism to reserve money during good years that will deal with special interest tax cuts that dig into the surplus so we can capture that amount and return it to the surplus."

The state treasurer also plans to combat irresponsible spending by the state legislature, something he observed during his first term. "I was concerned last term with what the legislature did, and will challenge them on raiding trust funds."

The incumbent feels his conservative philosophy is a perfect fit for the treasurer's position. "If there's one office that requires a fiscal conservative, regardless of political stripe, it's the treasurer's office."

Terry Phillips (D) is finishing a term in the state Senate. He believes Colorado's economy is volatile and that the state needs an innovative state treasurer who monitors the economy and employs a prudent investment-a treasurer dedicated to Colorado's hard-working families and one who is trustworthy and responsible enough to manage their tax money. "That is my commitment to Colorado," Phillips says. "Colorado needs an activist treasurer who, independent of the governor and the legislature, speaks out on fiscal issues confronting the public. As treasurer, I will monitor Colorado's economy and fiscal policies, providing the leadership Colorado's working families deserve in these trying economic times. As treasurer, I would be a responsible custodian of taxpayer money and would not hesitate to speak out on major issues confronting taxpayers, including securities reform, private pensions and health care financing. The treasurer cannot remain silent when corporations underfund pensions and shift burdens to the states. A more conservative approach to investment by the treasurer must be installed. Because certain state resources are overly invested in stocks, losses are guaranteed in volatile down markets like today. The treasurer needs to consistently apply the 'prudent man rule' of investing."

Gaar Potter's (L) approach to politics is best summed up this way:

He answers his own phone. There's no dealing with interns or voice mail, making Potter the most accessible candidate of the lot.

What's more, Potter is not a career politician, something he explains with pride when describing his platform. That is certainly an appealing attribute to a voting public fed up with partisan bickering and corruption.

And, as Potter, "a certified CPA for 23 years," likes to point out, with a bachelor's degree in accounting and a master's degree in taxation, he is the only qualified choice in a race against political science majors. In fact, he contends it is typically term-limited politicians, using the position as a stepping stone for higher office who pursue the treasurer's job.

"The previous two treasurers went on to be governor," explains Potter, who has no interest in a higher political position, content to apply his accounting skills to the Colorado State Treasury. "Who would you rather have managing your money, an accountant or a politician?" he asks.

In addition to being a CPA, Potter has served as an election judge since 1998.

In the interest of returning integrity to the office of the treasurer, Potter vows that he will not bring in political hirelings, and he will weed out employees who aren't pulling their weight. The state treasurer hopeful asserts that previous office holders haven't actually done any work, relying on their staff, and he vows to change this state of affairs if elected.

Mike Sanchez (RP) has a couple of advantages over the competition in the upcoming election. For one, the Reform Party candidate is not a career politician, appealing to a voting public more open than ever to independent options, and he has experience working with corporations, a valuable skill for the state treasurer position. Sanchez hopes to apply this experience toward positive political change: "The treasurer's office deals with a lot of corporate politics, and I want to make a change."

Having interned for the U.S. Department of Commerce, this is something Sanchez has the know-how to get done. If elected, his first order of business will be to reform allocation of state funds. "A lot of times we don't know where the money is going. I would like to account for any and all money."

Part of this reform plan would include responsible budgeting. "It all starts with prioritization. They're looking to cut education and diversion programs, but what are you going to do to replace these programs and help these children?"

Sanchez is confident he can achieve more by maintaining a grasp of the big picture, which is often buried in the details by career politicians. "Sometimes you lose sight of the obvious."

Ultimately, Sanchez is running to make a positive change in politics. While immediate results may not be noticeable, he urges patience with social change. "There is still the possibility of change, but it won't happen as long as people continue to elect the same candidates."

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