Akron Beacon Journal: “Strickland Did Not Wreck The State.”
COLUMBUS, OH -- Today the Ted Strickland for Senate campaign is releasing a new television ad: “Rainy Day.”
The spot sets the record straight about the false attacks on Ted’s record as governor, highlighting his leadership in the midst of the global recession -- balancing every budget and protecting important middle class priorities like education and local police and fire services.
The Akron Beacon Journal recently condemned these false attacks against Ted and praised his successful efforts to set the stage for Ohio's economic recovery, writing that in the midst of the recession “Strickland made the responsible choice to protect priorities,” “protected state finances,” and that “Strickland could be trusted with taxpayer dollars, keeping the state budget in balance.”
The ad will begin airing today in markets across Ohio alongside Strickland’s first ad, “Fire,” backed by a seven figure media buy.
Strickland: Rob Portman and his wealthy friends have spent millions attacking me. They say I lost jobs and drained the Rainy Day Fund. Well friends, I was governor during the great national recession and we all know it was raining pretty hard.
Strickland: So I used the Rainy Day Fund because I wouldn’t cut education or local police and fire. And we balanced the budget every year.
Strickland: Attack ads are easy. Leading in a crisis is hard.
Akron Beacon Journal Editorial: “Ted Strickland Did Not Wreck The State.” “The Great Recession hit, state revenues declining sharply, Ohio losing 400,000 jobs. (The country lost as many as 800,000 jobs per month.) Strickland and state lawmakers faced a large budget hole. What did they do in response? They protected the state’s finances. [...] They also tapped the rainy day fund, which was designed for just such moments. It was pouring, and Strickland made the responsible choice to protect priorities. [...] Worth adding is that Ohio began to add jobs with nine months remaining in Strickland’s term, roughly 100,000 if you count until the end of his second budget in July 2011. So the story isn’t so simple. Strickland could be trusted with taxpayer dollars, keeping the state budget in balance, aided along the way by federal stimulus money….This empty line of attack has been going on too long. Rob Portman should know that he deserves better from his friends.” [Akron Beacon Journal Editorial, 8/21/16]
Newark Advocate Editorial: “The Purpose of Ohio’s Rainy Day Fund Is To Stabilize State Government During Times Of Crisis.” “It's also clear the purpose of Ohio's rainy day fund is to stabilize state government during times of crisis, including a steep drop in tax revenue that could have forced massive layoffs of state employees, creating more economic stress. Not to mention the Republican majority in Ohio's General Assembly (Senate only in 2009-10) had to approve the spending.” [Newark Advocate Editorial, 7/30/2016]
State Funding Expert: “I Wouldn’t Blame A Governor For Spending Budget Stability Funds In A Time When You Need To Stabilize Your Budget.” “Former Gov. Ted Strickland is often criticized for running the fund to nearly empty amid the financial crisis, but at least one state funding expert says that isn't fair. ‘I wouldn't blame a governor for spending budget stability funds in a time when you need to stabilize your budget,’ said Kim Rueben, who directs the state and local finance initiative at the Urban Institute, a think tank in Washington D.C.” [Columbus Business First, 7/29/16]
CBPP: “States With Rainy Day Funds Were Able To Avert Over $20 Billion In Cuts To Services And/Or Tax Increases.” “Almost all U.S. states relied on their ‘rainy day funds’ when the economic recession began to ravage their budgets, showing that the reserves will be critical during the next downturn and states should consider putting even more money away, a think tank said on Thursday. The Center on Budget and Policy Priorities, which closely tracks states' fiscal situations, found that over 70 percent have used their reserves to address budget gaps. ‘States with rainy day funds were able to avert over $20 billion in cuts to services and/or tax increases in the recession of the early 2000s and again in this most recent recession,’ CBPP said.” [Reuters, 2/3/11]
Institute On Taxation And Economic Policy: A Rainy Day Fund Is Designed For Use In Economic Downturns. “Rainy day funds allow policymakers to avoid fiscal policy decisions that can worsen economic downturns. When budget shortfalls are caused by short-term economic declines, tax hikes or spending cuts can actually prolong the economic slump.” [Institute On Taxation And Economic Policy, 2005]