This is one that has been simmering since the middle of March. We finally take a stab at it with today's Fact Check in the 13th congressional district Republican primary.
Claim: Paul Coble as a Wake County commissioner says he has balanced the county’s budgets, but those budgets have included $192 million in unfunded liabilities, and Coble has approved millions of dollars in new debt.
Speaker: George Holding in TV ads, letters to Coble and in public appearances.
Context: The unfunded liability represents the amount the county is estimated to owe in future costs for retired employees’ health care. The county doesn’t set aside that money to cover the future debt, which Holding claims is “Washington-style bookkeeping” that would amount to fraud if a business with a retirement plan took that approach.
Wake County Manger David Cooke says it would be “crazy” to set aside taxpayer money for such a long-range, estimated debt. Wake County has a pay-as-you-go system, and this year’s actual payout to retirees was $3 million or $4 million, he said Friday. Rating agencies, in awarding the county a AAA grade, looked at that issue, he said.
Cooke added that the board of commissioners has since stopped paying retirement health insurance for newer employees.
Coble has voted to approve issuing a number of bonds since he’s been in office for schools, open space, libraries and other issues, and so the debt has increased. But those bonds were all approved by voters. Cooke again pointed to the Triple-A rating, which took into consideration bond debt.
Holding’s campaign says Coble has called them “perfunctory votes,” which it contends is “political spin.” The campaign also criticizes Coble for opposing using tax funds for arenas and baseball stadiums when running for Raleigh mayor in 2001, but voting to do just that once he became a commissioner.
Ruling: It’s true Wake County has $192 million in estimated future costs for retiree health insurance, but that does not mean the budget hasn’t been balanced. By law, it must be. It’s also true that Coble approved issuing bonds that voters had already approved. He didn’t have to vote that way. The accusations are factual, but using those issues to question Coble’s fiscal conservatism is misleading.
UPDATE: Here is the Holding campaign's response to the Fact Check:
Comments
Not about the two candidates
Sat, 05/05/2012 - 08:04 — AgentPierceThis race is not about the two candidates. I've known Paul Coble for some time and Paul had my vote the moment he filed to run. That said, I assumed George Holding was a decent fellow too. What I knew of him was quite acceptable. Heck, I am a First Citizens customer.
Once Holding sold his soul to Carter Wrenn that all changed. Hiring that ruthless political assassin is the ultimate Faustian bargain.
Even if George Holding "wins" on Tuesday, he has already "lost" his soul. If Paul wins on Tuesday, George will have "lost his soul" AND the race. What price, George?
IT'S ABOUT CHARACTER
Sat, 05/05/2012 - 15:33 — YosephusThe regrettable truth is that, desperate to win an election at all costs, George Holding has become what he claims he's against: corrupt Washington politicians who will do anything, say anything, and make up anything to get elected.
First George went back on his promise to the voters not to benefit from PAC money, and in a huge way, leaving him beholden (beHolding?) to arrogrant trial lawyers and a $21 billion bank that would love to buy a family seat in Congress.
Then George went viciously after front-runner Paul Coble, flooding the airwaves and mailboxes with vitriol and lies to try to come from behind and win. Calling tight-fisted Paul Coble a big spender who has gleefully dumped debt on the taxpayers is ludicrous.
That's the opposite of the strong fiscal conservatism Paul Coble has achieved as a part-time local official and successful private businessman. Before Paul started cutting local government budgets, he was a spending watchdog as vice president of the Wake County Taxpayers Association.
George Holding's apparent zeal to return to his home in Washington and push the self-serving agenda of trial laywers and big banks has blinded him to his own moral and spiritual self-destruction. He has run a dirty, rotten, dishonest, and dishonorable campaign.
It would be a farce if it weren't a tragedy.
A wise man once told George: What you condone, you become a part of. The corollary also is true: what you become a part of in your campaign, you condone -- and you must take responsibility for.
Too bad George Holding didn't learn the lesson his boss Sen. Jesse Helms tried to teach him.
Principled Paul Coble sure did.
And it shows in their character, which could not be more different.
Tell the Truth
Fri, 05/04/2012 - 18:34 — Curious_GeorgeTell the truth, N&O. Everytime we use our First Citizens Bank ATM card we donate another dollar to the George Holding Surivival Fund..
After George falls on his face May 8th I expect to find him working at a window for one of his family branches, just like countless numbers of women for over a hundred years have worked to line the pockets of his greedy family. I can't even stand to turn on the TV anymore with all these super PAC ads making me quesasy. Tell me, George--who should I address my letter of complaint to? Shall I drop it off at the First Citizen's Bank, with Carter Wrenn, or directly at your home? Or would that look like I was coordinating my attack?
Dang right!
Sat, 05/05/2012 - 15:34 — YosephusYou got that right, Curious George!
Unlike George Holding, Paul Coble hasn't worked 11 years for the federal government.
Unlike George Holding, Paul Coble did not botch the corruption prosecution of Mike Easley.
Unlike George Holding, Paul Coble has succeeded as a small businessman for the past 31 years.
Unlike George Holding, Paul Coble doesn't drive a Bentley or rate as a banking family scion. He's a regular guy who made his own way as an honest proprietor, faithful husband, and devoted father.
And unlike George Holding, Paul Coble does not have a mud-slinging, million-dollar, special-interest super PAC of arrogant trial lawyers and rich bankers who crave a crony in Congress.
George Holding already has a home in Washington, but the last thing we need is another Washington politician claiming to represent the good and decent people of North Carolina.
Whether you are a Tea Partier or a Chamber of Commercer, Paul Coble is the right choice.
Unlike George Holding.
The truth hurts!
Fri, 05/04/2012 - 23:54 — YosephusThank you, N&O, for setting the record straight on George Holding's deep-pocketed but dishonest, deceptive, and dishonorable ads.
Paul Coble is as fiscally conservative and tight-fisted as they come, as anyone who has followed his record of local part-time public service knows.
And although Paul doesn't have the backing of a loaded, secretive, super PAC run by arrogant trial laywers and super-rich bankers who crave the chance to imbed their crony in Congress, he has far more integrity than George Holding.
Folks, character matters. Think carefully about this: If George Holding won't tell you the truth in a political campaign, then you can bet that he won't tell you the truth if elected, either.
Vote against mean-spirited lies and hypocrisy.
Vote for honesty and integrity.
Vote for principled Paul Coble.