TRUMBULL, CT- Today, Tim Herbst, Republican candidate for State Treasurer, released his third advertisement of the general election, “Amok,” outlining how 16 years under Denise Nappier’s leadership has left the state’s finances in shambles.
Nappier has prioritized lining the pockets of her political allies over holding the bottom line on government spending and borrowing.
In 1998 it was Ms. Nappier’s campaign platform to fully fund the state pension system, which was then only funded at 58%. Sixteen years later, Connecticut has the second highest pension liability in the country at $80 billion, and the system funding has dropped to 38%.
Ms. Nappier has stood by and watched the unfunded liability grow while in office, only offering a “solution” of borrowing $2 billion in order to try and save the Teacher’s Retirement Fund.
There have been several other problems and embarrassing errors by Ms. Nappier in her management. Nappier has not only embarrassed Connecticut, but she has betrayed our trust.
A transcript of Herbst’s third general election ad is below.
“Bureaucrats run amok in the Treasurers office, Denise Nappier made back room deals to invest our state pensions with political contributors. Nappier mismanaged our money, exploded our debt and lost our trust. It’s time for a reformer, its time for Tim Herbst. ” (Narrator)
“Hi I’m Tim Herbst and I approve this message because I’ve balanced budgets and I won’t take a dime from the state pension system until we finally clean up the mess in Hartford. I hope to earn your trust, and your vote.” (Herbst)