The Anti-Capitalist Treasury Adviser

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Mike Riley asks a question on which Rhode Island journalists should follow up: What was General Treasurer Seth Magaziner thinking when he hired a far-left policy adviser whose repeated theme on public pensions and other post-employment benefits has long been that the problem is purely an illusion of accounting?

Further quotes from this policy director [Tom Sgouros] can be found in his scary “The Manufactured OPEB Crisis.” Can you imagine a guy who never managed money being elected Treasurer of Rhode Island in the midst of a pension Crisis and selecting an anti-capitalist political supporter who doesn’t believe basic financial concepts as his policy adviser? Sadly, you don’t have to imagine this scenario because you are living it.

I tend to doubt that the local mainstream media will take much interest in this story, though.  It’s “dog bites man.”  Rhode Island Democrats take office and fill their ranks with progressive activists.  It’s not like the job titles mean anything.  Those appointed to the jobs are just there to help build constituencies, to earn a living off of taxpayers while remaining activists, and maybe to lay in waiting for some vacant elective office or other.



  • George from Warwick

    A quote from that Mike Riley article =►

    Undoubtedly Sgouros will recommend even further amortization since his public statement show he clearly does not believe in “generational equity.” Sorry youngsters, but Tom Sgouros and his ilk don’t care about your economic burden.

    Magaziner, Sgouros, and every other Rhodent pol are just riding that “generational warfare / equity” wave that is washing over the entire country really

    Luckily for us Seniors, we are gonna win that war — altho by “win” I mean “spend as much as we can borrow now and then die before the bills come due and let the future generations pay”

    Exactly WHY we are gonna “win” and why the younger generation won’t be able to stop us is a subject for another post … but win we will !! ☺ ☺

    More on this topic =►
    http://reason.com/archives/2012/07/23/generational-warfare

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