EDITORIAL: The standout pick for California treasurer is 31 years old
The 31-year-old Democratic candidate for state treasurer understands
His brings a mix of progressive values and appreciation for fiscal reality that eludes most candidates for local and statewide office. If only there were more like him.
Viswanathan, if he can overcome special interests that dominate
The son of immigrants from
But, as impressive as his academic credentials are, it's his real-world experience as a policy advisor to
His policy work has included climate change, health care, infrastructure, mental health and disability rights. And, as we found discussing financing of single-payer health care and public employee pensions with him, he's mastered the details.
None of his three serious opponents -- Republican
Meanwhile
The State Treasurer's Office, with nearly 400 employees, has a huge portfolio, both of money it manages for
That includes the boards of the nation's two leading pension plans, the
Which is why Viswanathan's mastery of pension issues is so refreshing. He supports the governor's Supreme Court legal challenge to the state's ridiculous public employee pension vesting rules. He's read the cases and can quote key points of the appellate court decisions.
And he says -- correctly -- that the badly underfunded pension systems must stop banking on unrealistic assumptions about future investment earnings. It's those ridiculous forecasts that are one of the root causes of the state's pension crisis.
Ma, the highest profile candidate in the race and currently an elected member of the state
While a member of the state Assembly, she authored legislation in 2010 purporting to be pension reform that would have actually legitimized illegal spiking of retirement pay. The bill would have also shut off public access to public employee pension records.
Criticism led by this news organization and from other newspapers across the state stopped what would have been a travesty.
Eight years later, Ma still resists meaningful change. She opposes Brown's legal challenge and says the pension funds' unrealistic investment forecasts are just fine.
And she said the state should only aim to fund pensions at 80 percent, a union talking point designed to push current costs onto future generations that has been discredited by pension actuaries. After being questioned about that, in an email to us the following day, she reversed herself.
But it was clear that, after all these years, she still puts public employee union interests ahead of solving
Especially not when voters have a far-superior option. Viswanathan is one of the smartest candidates this state has seen in a long time. He's the sort of future leader
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