Phantom State Treasurer Todd Hollenbach is mad that people in Frankfort want to abolish his worthless office. The State Senate approved SB 58, sponsored by Sen. Chris McDaniel, 23-15 yesterday. It would dissolve the office of Treasurer at the end of Hollenbach’s term. Essentially, the very few functions that are important would be absorbed by the Finance Cabinet. Which makes tons of sense.
But Hollenbach, who rarely goes to work, freaked out. We mean really freaked out. Here’s what Little Todd’s office blasted out just before the close of business:
“The action today by the proponents of this legislation is a cynical expression of willful ignorance wrapped in a shroud of partisan hypocrisy” said Kentucky Treasurer Todd Hollenbach in response to the passage of Senate Bill 58.
“The sponsors of this legislation espouse alleged benefits to the abolishment of the treasury based on claims that were pulled out of thin air and other nether regions of non-existence”, Hollenbach added.
The Treasurer went on to say, “Abolishing the Office of Treasurer will not save any money as all of treasury’s jobs will still have to be performed and all of the equipment maintained. Transferring the functions of the treasury into an existing government bureaucracy will only further bloat the bureaucracy and diminish the efficiency, accountability and productivity that the Treasury now produces. Most importantly, the supporters of SB 58 want to take away the constitutional right of the people to vote for the individual who oversees the handling of their tax dollars and remove a vital part of Kentucky’s constitutional system of checks and balances, to stop unauthorized spending by the executive branch.”
Hollenbach concluded, “As a term limited Treasurer, I have no vested interest in this proposal but I can say with conviction that the actual facts support the point that abolishing Treasury is simply bad policy for the people of our Commonwealth.”
Told ya there was a pee alert.
The only thing we can find that’s bloated is the salary paid to the Treasurer and his friends he loves to hire. Killing those jobs and giving the very few responsibilities to others in Finance who are already paid mega salaries makes tons of sense. We used to think that office mattered. Then we got to know both the former and current Treasurers. Now it’s clear that it’s a massive waste of taxpayer dollars.
It’s just a shame Democrats are too afraid to do the right thing.