CFO presses, again, for special session

Chief Financial Officer Alex Sink held a press conference Wednesday to talk about the need for a special session, as all reports indicate that the budget deficit is only continuing to deepen with less money coming in than expected.

"The time is now," she said. "The election is over and we know who the new legislators are. . .the time to act and a build a plan of action is right now."

She also highlighted a problem with borrowing money from the Lawton Chiles Endowment Fund, whose investment she helps oversee as a trustee of the State Board of Administration.

UPDATE: FEA says: We second her call for a special session. Read more below.

She said that the fund is locked into long-term investments and that it has taken a monetary investment hit, meaning there's less in available cash to use than there might have been several months ago.

"We can't just go in there and say, send us a billion dollars," she said.

She said she's against across-the-board cuts and thinks the Legislature should consider raising fees, like the licensing fees that her office collects.

Florida Education Association president Andy Ford on Wednesday backed CFO Sink’s call for quick action on the increasingly precarious state budget situation.

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Comments

[Draft Alex Sink for Governor]

Go Alex!

If Sink would actually DO something in her job as CFO, she might have some credibility. Note this from today's Motley Fool column:

"Earlier this month, Arizona and Ohio voters approved measures to restrict payday loans. In Ohio, the interest rates for such loans were capped at 28%. That was enough for Cash America (NYSE: CSH) to announce that it was closing 43 Ohio branches. More than a dozen other states already have limits; elsewhere, these payday lenders' interest rates often top several hundred percent per year."

These are loan sharks who prey on poor folks that can't afford a bank account. They have proliferated in every Florida metro area. What is democrat CFO sink doing to protect low income floridians from these blood suckers?

Duh!

2:39 ask that of your GOP Atty General!!

Alex for Gov!!!!

Alex, please run for Governor!!!

3:00 you could have a good point there. She couldn't do any worse job as governor than she has as CFO, right?

2:59 - I agree with you. The CFO job is a useless appendage on the body of government.

[Draft Alex Sink for Governor]

Useless? It seems as if a lot of people whitnk it is useless because they don't like to hear the truth.

Florida is running out of money because the Governor and republican leadership don't want to deal with the economic situation. Alex Sink is rightfully letting the public know that the fund is running out of money and we really shouldn't be borrowing more money from it or face a terrible situation in March.

Even Sansom is coming around.

Hey she could keep her eye on the checkbook and holla when she sees peril on the horizon. Oh, that is EXACTLY what she is doing calling for a special session. My bad.

Real Leadership for Florida, Alex for Governor

[Doug]

2:39 -

There are three branches of our system of government: the legislative branch, the executive branch, and the judicial branch. The legislative branch enacts the law, the executive branch is charged with enforcing and administering the law, and the judicial branch is responsible for interpreting the law. For this reason, CFO Sink, in her office in the executive branch, can only enforce and administer the law. If this still isn't clear to you, I suggest you revisit whatever grade it was where you were taught basic civics/government for more information until you understand why CFO Sink isn't in a position to do anything about payday lenders. 2:59 may need the same lesson.

I'd also suggest you take a look at the New York Times Magazine from last weekend for an interesting piece on payday lenders and why they have proliferated.

So what you're saying is basically she hasn't done squat.

3:46- If Florida is running out of money, it's because we can't push the hogs away from the trough, not that they need more "slop".

[Wiseguy]

OK Mr Doug I'm confused you mean the Judicial Branch cannot investigate or indict? That is the done by the executive branch?

Heads up Charlie - your FEA buddies will throw you under the bus for Sink (or any other Democrat) in a heartbeat no matter how much you work with them. Count on it!

Well, somebody has to act like a Governor, even if she is the CFO.

I'm thinking about 'REPUBLICANS FOR SINK" in 2010.

[Draft Alex Sink for Governor]

Charlie just came out against it. Is putting things off a model governing style or is it the bi-partisanship he is showing by not listening to Demcoratic leaders?

We have to deal with this sooner rather than later and if the Chiles fund keeps being used as Charlie's "I don't want to come back to Tallahassee" fund it may disapear.

[Watchit]

Sink, How about triming some of the 800 miilion targeted to buy development rights back form developers this year. Its not land, its just the "rights" the Governor and Republicans GAVE them last year to build on land they own, when we all knew no one would be building. This year we need to BUY those rights back so we can regrant (give) them back next year and buy them back in 2010. Its called Florida Forever. It needs to stay in synch with the election cycles.

[seenitfirsthand]

This is nothing more than old school politics. Hear about a big project about to occur on the near horizon. Begin a campaign calling for this project to occur in order to posture as a "get things done" leader. When the already scheduled event occurs, the politician takes the credit. Ta da!

Ladies and Gentlemen, the special session is a done deal and Sink knows that . . . she's just posturing, which is fine, but it does give me pause to wonder why she has to resort to this if she has good ideas of her own. Things that make you go hm-m-m.

Are you joking.....give Alex credit for speaking up and being responsible!!!! At least she is not part of the crowd in Tally who are putting their heads in the sand pretending that we are not in economic turmoil! We really need to take a closer look at getting the State budget under control! I agree we should deal with it now rather than later and force more efficiencies and responsible outsourcing into the budget!!!

[Doug]

Sure they can, Wiseguy. But they don't make the law. That would be your legislature. And until "payday" lending is made unlawful, usurious, etc., there's not much that the CFO or the judiciary can do. And that is what 2:39 was asking about, what can CFO do to protect low income residents from payday lenders. The answer is not much, if anything.

Somebody actually calling for WORK to be done in Tallahassee? For the people of Florida??

Imagine that!

[FIRST TIME AT THE RODEO]

Alex, get a hot dog and a beer now that you're here!

SINK ANNOUNCES "NEW DAY"

TALLAHASSEE -- CFO Sink announced today that the sun rising in the east constitutes a "new day."