Steve Royal

North Carolina 
Steve Royal (R)
732 Oakland Drive
Elkin, NC 28621

Reform, fix it and go home!

History of NC Treasurer's Office
"No Republican has held the State Treasurer's Office in a long, long time.  The country's economic path is drastically changing, and I believe it's time to put a Republican reformer in this office that realizes that our economy suffers from "structural or systemic" problems as opposed to normal "cyclical" issues." 
- Steve Royal 

What's the real problem?   
It's the DEBT! Former chairman Adm. Mike Mullen described the nation's debt as "America's biggest national security threat".  Not only does our nation face a debt crisis, but so does North Carolina.  Excessive debt can not only destroy individuals, but also cities, counties, and even states. Debt is to be respected, even feared.  

North Carolina has been racking up almost 3 billion dollars of debt to the Federal government by overdrawing the unemployment fund and this debt grows everyday (about $25 million per week). The complete lack of leadership by the current Governor and Treasurer is without explanation. Also, the pension fund has gone from being over-funded to drastically under-funded. This can only be described as political and financial negligence.

Big money is destroying the political process. The serious office of NC Treasurer has been used as a political "milking-machine" for almost twelve years, to fund the office holder's political coffers with hundreds of thousands of dollars. Known as "Pay-To-Play" because the vast amount of this money came from law firms, financial interests and bank interests. My motto shall be: Absolutely No Pay-To-Play.

And no more games with the pension fund's financial reports, period! with a $771 million loss on securities realized but not shown. Last year's report excluded over $5 billion in questionable mortgage securities, not disclosed. We should protect the pension funds with a full independent audit.

My belief
We need Main Street North Carolina's ethics, not Wall Street's. The Treasurer's office needs to have complete and total transparency. Twelve years of keeping the citizens and retirees in the dark is long enough. I will serve only one term (four years) and then return home, as I believe I can (and should) get the job done within one term.

My experience in business and finances is real and practical. I review daily the current economic issues via CNBC and Bloomberg. My interests and experiences extend beyond the accounting and tax world. 


Click here for the Steve Royal for Treasurer .com website.