Kate Marshall Brags About Failed Economic Record in First TV Ad

July 27, 2011

Kate Marshall’s first TV ad hit the airwaves today and, as expected, Kate Marshall takes full ownership of Nevada’s struggling economy. Below are the facts.

NRCC Comment:

“As a self-proclaimed ‘financial expert’, Kate Marshall has overseen record-breaking unemployment and home foreclosures in Nevada. The fact that Kate Marshall brags about her failed economic record as the state’s top financial officer is a slap in the face to Nevada’s struggling families and small businesses.” – Tyler Q. Houlton, NRCC Spokesman


MARSHALL AD:In the treasurer’s office we were able to save millions of dollars…and increased services without raising taxes.

FACT: Kate Marshall lost $50 million of taxpayer on a Wall Street gamble as the state’s top financial officer. As treasurer, Kate Marshall also advocated for raising taxes despite objections from small businesses.

MARSHALL AD:Financial expert Kate Marshall praised by the [Reno] Gazette-Journal as a serious caretaker of taxpayer money.

FACT: Under Kate Marshall’s tenure as Nevada’s top financial officer, the unemployment rate has tripled and home foreclosure rates remain the highest in the nation. Nevada has plummeted from the second best economy in America to dead last under Marshall’s watch.

Further, Kate Marshall was praised by the Reno Gazette-Journal on October 24, 2006. This was before Marshall was elected Nevada state treasurer and before she lost $50 million of taxpayer money on Wall Street and oversaw the worst economic collapse of any state in America.

MARSHALL AD:I didn’t take a pay raise in Nevada.

FACT: Kate Marshall is disingenuous when she claims she didn’t take a pay raise. While Marshall didn’t take a direct pay increase, she gave up a voluntary pay cut and, therefore, took an indirect pay increase from Nevada taxpayers. According to the Las Vegas Sun:

“The six constitutional officers [including Treasurer Kate Marshall] took the 4.6 percent pay reduction levied on state workers in May 2009….Under state law, the constitutional officers are entitled to an increase in salary of 6 percent this month, but Lt. Gov. Brian Krolicki said this isn’t the time to take a pay increase.

“Krolicki and Secretary of State Ross Miller won’t take the 6 percent raise. State Treasurer Kate Marshall also won’t take the pay increase, but she said she won’t continue voluntarily giving up the 4.6 percent reduction. (Cy Ryan, “Nevada constitutional officers split on accepting pay increase,” Las Vegas Sun, 1/6/2011)

Full Script:

Marshall: “When it comes to our money, Washington they need more common sense. And in the Treasurer’s office we were able to save millions of dollars simply by renegotiating contracts by cutting expenses and increased services without raising taxes.”

Narrator: “Financial expert Kate Marshall praised by the Gazette-Journal as a serious caretaker of taxpayer money.

Marshall: “My job is to make sure that we have our middle class.”

Marshall: “I didn’t take a pay raise in Nevada and I won’t take one in Washington.”