State Chamber Dinner – January 22, 2001
Good evening. It’s wonderful to join you once again this year for this event. Each of us has no doubt had a few changes in our lives since the last time we gathered. You may have heard that I have a new job, and a new house. But I am happy that I have the same friends and relationships with people and organizations like those gathered here to help me guide the state over the next four years.
All of you know, perhaps better than I do, that we face a changing economy. Things are slowing down. That means we must change the way government spends our money. We have gotten used to having a deep pocket to dip into for our projects and for our budget growth.
Now, we will have to be much more careful. We will have to be much more prudent. From the many worthy options we have, we must pick a very few priorities and make sure we do them well.
So let me be plain on this point: the people of Delaware spoke to me very clearly last year, and the businesses of Delaware continue to do so. Improving our schools is our most critical task at hand, and that will be the first place our limited dollars should go.
I will talk a bit more about my spending priorities for the year in my State of the State address on Thursday. But I also commit to you that just as businesses must take a hard look at their expenses in order to make their balance sheets balance, government will be doing the same.
Every agency in state government is currently undergoing a review of their budgets in order to trim costs for this fiscal year. And the agencies and I together will be looking at next year’s budget requests as I come up with my own budget for FY 02.
Though we face a bleaker economic picture in the near future, I am confident of our ability to manage it and manage it well. That’s because the economic and financial team I have assembled is one of the strongest in our state’s history.
With David Singleton as Finance Secretary, John Wik as Director of Economic Development and Pete Ross back in the Budget Office, the day-to-day decisions on our state’s finances are in decisive hands. And with Nathan Hayward and John Carney and Jack Markell close at hand to help complete our strategic vision, I believe that we will weather the economic winds as well or better than any other state.
One of the other things I have done in the past few weeks is name a new DEFAC chair, my old and trusted friend Bob Byrd. While I am here, I should congratulate him on being elected to the State Chamber Executive Committee this afternoon. It is well deserved for him and a good move for the chamber.
In conclusion, let me say that I am committed to and, in fact, have begun preparing Delaware for the tough times that are to come. I plan to reduce the growth in our state budget and commit to keeping it in check. I welcome your help in making the path forward as smooth as possible and ask for your understanding in the hard choices that will have to be made.
Thank you.
