McRae: Reasons for Hope
By Treasurer David McRae
It’s undeniable: President Biden has created a true financial mess in America. After trillions of dollars’ worth of wasteful spending and policies that attacked the energy, timber, and manufacturing industries, Mississippians are living with higher gas prices, rising utility bills, expensive groceries, and an unaffordable housing market. It’s easy to get frustrated and angry under such circumstances, but my message to you today is not one of discouragement, but of encouragement. Here in Mississippi, we’re doing things right – and it shows.
While federal lawmakers struggle over funding, Mississippi is a shining example of fiscal responsibility. We balance our budget – every year. We pay our bills on time. Our credit rating is growing stronger. And we’re competing aggressively for better-paying jobs in growing industries.
As your State Treasurer, I’ve been a part of a series of debt refinancing deals that together have saved taxpayers more than $100 million. I’ve also helped right the ship when it comes to College Savings Mississippi’s funding, restoring the Mississippi Prepaid Affordable College Tuition (MPACT) program’s solvency and avoiding a massive taxpayer bailout.
My Unclaimed Money team has also aggressively and proactively returned nearly $80 million to the people of Mississippi. We’ve done this by modernizing the system, bringing processes online, and making sure every member of our team understood that returning money was a priority. (If you’d like to search for unclaimed money, please visit treasury.ms.gov/Search).
I’m a fourth generation Mississippian, my children are the fifth. I know our state has historic problems. There is no denying that, nor should there be. But we are also entering into a new chapter for Mississippi. Of that, I am confident.
During his farewell address, President Reagan spoke of America as a “shining city on a hill.” I truly believe that Mississippi has the potential to become that very shining city (or state, rather) – a beacon of hope, a symbol of exceptionalism, a model for our nation.
It is an honor to serve this state, our state, as your Treasurer.
Mississippi Treasurer David McRae is the 55th Treasurer for the State of Mississippi. In this role, he helps manage the state’s cash flow, oversees College Savings Mississippi, and has returned nearly $75 million in unclaimed money to Mississippians. For more information, visit Treasury.MS.gov.
