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Deval Patrick on Budget & Economy
Democratic Governor (MA) and presidential contender
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Believes in private sector's ability to create opportunity
"The layoffs at Toys 'R' Us and their human impact are devastating," Aleigha Cavalier, communications director of the Patrick campaign, said in a statement. "Governor Patrick is a capitalist but supports robust regulation and
strong enforcement of laws to protect workers, consumers, and our planet. He believes in the private sector's ability to innovate and create jobs and economic opportunity for everyone, everywhere."
Source: Huffington Post on 2019 Democratic primary
, Dec 3, 2019
Headed "Double Impact" group at Bain, as a "force for good"
At Bain, Patrick headed the Double Impact group, which invested a $390 million fund tasked with generating financial returns while also contributing to sustainability, health and wellness, and education and workforce development.
It was positioned as a force for good. Patrick co-headed the group with Todd Cook, guiding 11 investments in smallish businesses, including Arosa, which provides in-home elderly care, and for-profit school Penn Foster.
Source: Forbes Magazine on 2019 Democratic primary
, Nov 14, 2019
Trickle-down fantasies got us into recession to begin with
Today we're out of the deficit hole Gov. Romney left. Today--with labor at the table--we've made the reforms in our pension and benefits systems.We have much more still to do. But we are on a better track because we placed our faith not in
trickle-down fantasies and divisive rhetoric but in our values and common sense.
The same choice faces the nation today. All that today's Republicans are saying is that if we just shrink government, cut taxes, crush unions and wait, all will be well.
Never mind that those are the very policies that got us into recession to begin with! Never mind that not one of the governors who preached that gospel in Tampa last week has the results to show for it.
But we Democrats owe
America more than a strong argument for what we are against. We need to be just as strong about what we are for. We believe in an economy that grows opportunity out to the middle class and the marginalized, not just up to the well connected.
Source: 2012 Democratic National Convention speech
, Sep 4, 2012
Closed $9 billion budget gap
We closed that $9 billion budget gap and delivered a third consecutive budget that was responsible, balanced and on time--which is not something that many other states can say.
But we also worked to understand and address the impact that each cut would have on the people who depended on the program, and to deliver the service in better and more efficient ways. We made it personal.
Source: MA 2010 State of the State Address
, Jan 21, 2010
We're broke, not poor: recession is temporary
We gather tonight under an economic cloud darker than anything this Nation has faced in three generations. Tens of thousands of people in Massachusetts have lost their jobs to a nationwide recession. Thousands have seen their savings or home equity
snatched away by turmoil in the markets. Banks have money but won't lend it.This is not the time to either lose our will or our way--the grim economic forecasts notwithstanding.
When I was growing up, we were forbidden from calling ourselves "poor."
My grandmother taught us to say we were broke, because "broke," she said, is temporary. See, we will cycle out of this downturn eventually and start to expand opportunity again, to widen the reach of the American Dream.
And I am confident that if we are honest about the challenges we face, responsible in the choices we make, and committed to work together for the common good, we will see our way through today's economic clouds to a stronger and brighter tomorrow.
Source: 2009 State of the State speech to Massachusetts Legislature
, Jan 1, 2009
$1.1 in cuts in services this year, including many layoffs
With the economy continuing to deteriorate, we foresee the need for another $1.1 billion in cuts and other budget solves this month. At the end of this month, I will file an Emergency Recovery Plan to close this further gap. My request to you is simple:
Give us the tools and we will finish the job.I will also file a balanced budget proposal later this month for the coming fiscal year. Given the decline in state revenue, spending must be at levels significantly below what they have been in better
times.
No one's priorities will be spared. Local services will be cut, and in many cases, police, firefighters and teachers will face layoffs. But as we debate these proposals among ourselves and with the advocates, let us remember that we are doing no
more in state government than the people of the Commonwealth are having to do in their own lives--to make do with less, to trim down wherever we can to get through to a better time.
I know the impact is real. We need everyone to contribute.
Source: 2009 State of the State speech to Massachusetts Legislature
, Jan 1, 2009
Focus on stimulating economic growth via local aid
I think all of us agree on one thing, which is about the importance of stimulating economic growth here in Massachusetts and how important that is. I will say when I talk about the reasons for restoring local aid it is about investing in the
infrastructure so we can create a platform and small and medium-sized businesses to grow. It’s about creating opportunities to provide capital for those small and medium sized businesses, which is where most job growth is going to come from.
Source: 2006 MA Gubernatorial debate on Fox News with Chris Wallace
, Sep 25, 2006
Focus on selling Massachusetts
As Governor, working with mayors and other local officials, I will personally engage in attracting new businesses and workers to Massachusetts and encouraging those here to expand.
We will also fund a marketing program to stimulate investment in and relocation to Massachusetts.
Source: Moving Massachusetts Forward, Patrick’s policy booklet, p. 5
, Sep 15, 2005
Page last updated: Feb 24, 2020