The Barefoot Accountant interviews Connecticut’s Democratic candidate for the United States Senate, Susan Bysiewicz. Video and transcript of interview, Part I: How the government can create jobs

William Brighenti, Certified Public Accountant,Certified QuickBooks ProAdvisor Accountants CPA Hartford, LLCAn exclusive interview of Susan Bysiewicz, former Secretary of State of Connecticut and Connecticut State Representative, by the Barefoot Accountant on August 5, 2011. Susan Bysiewicz is now running in the Democratic primary for United States Senator from Connecticut.

Barefoot Accountant: Hi, Susan. I appreciate you taking the time today to allow me to interview you.

Susan Bysiewicz: Thanks for doing this with me. I appreciate the opportunity.

Barefoot Accountant: I am a certified public accountant operating a small public accounting practice in Berlin, Connecticut. I would like to ask you a series of questions dealing with pocketbook issues of Connecticut residents. I have witnessed a lot of pain preparing tax returns and financial statements of small businesses and tax returns of individuals. So I have tried to focus my questions on the pocketbook issues facing working class and middle class people, and I would like to present them to you today, and I appreciate you taking the time from your busy schedule today to address them.

The first question I have concerns the unemployment rate. The unemployment rate has dropped one-tenth of one percent down to 9.1%, but it is still officially at 9.1. However, according to Morton Zuckerman of U.S. News and World Report, he has mentioned that the real unemployment rate is approaching 20%. I agree. And as you know, people fall off unemployment after so much time, and a lot of people are underemployed.

I would like to ask you, how do you propose to create jobs in America now if you are elected Senator of Connecticut?

Susan Bysiewicz: Well, first of all let me just say a few things about the unemployment numbers in Connecticut because this goes to your bigger question of how are we going to create jobs.

And, yes, you see unemployment hovering at around nine percent but I do believe in parts of Connecticut that rate is higher. In Windham County, for instance, people in Eastern Connecticut are struggling and the unemployment rates there are higher than nine percent. And I think there are many people who had been unemployed for so long they just given up. So I couldn’t dispute the numbers U.S. News and World Report had given because I have been all over the state visiting with people who are getting very, very discouraged.

And what I know is this: that we have made some progress in getting jobs back. We lost approximately a hundred and thirty thousand jobs during the recession. We have ninety thousand that we have to get back. Forty thousand we grew. And so it would not surprise me to have more than a hundred thousand people looking for jobs. And those numbers don’t include the thousands of young people who are graduating from high school and college who are looking for work.

And if you are working on a Senate campaign as I am, it’s great having interns who are willing to volunteer for free. And I know of a lot of young people, since I have three teenagers who are done with college and who are volunteering or out very actively looking for work and having a very difficult time.

And I’m running for the Senate because I’d like to make this state a place where we are growing job opportunities for everyone and we’re able to keep our young people here.
Right now that’s not happening. We’re continuing to lose more young people between eighteen and thirty five than any state in the country.

So your question about how we’re going to create jobs is really, really important and I would like to share with you some of the things that I think the federal government could be doing to help grow jobs in Connecticut and in our country.

And I would highlight just at the outset on that point, that government doesn’t create jobs; it’s businesses that create jobs but there are some things that the federal government could do to help job creation.

And first and foremost we could be investing in infrastructure in this country and rebuilding roads and bridges, and we could be investing in high-speed rail and transit systems that would make economic development in our state much more vibrant. Right now Connecticut has crumbling roads and bridges, many of them have not been repaired work or fixed well since President Eisenhower built the highway system. And I look at other states like New Jersey and New York: they’re very densely populated states that have much more sophisticated public transportation systems than we do.

So I think that we missed an opportunity during the recovery period when President Obama.helped to pass the Recovery Act. There was some investment in Connecticut infrastructure but not enough to make a real impact to grow good jobs.

Also I think the government has a really strong role to play in terms of funding research and innovation. And if we were investing more in basic scientific research and encouraging innovation, we would be helping to grow jobs in Connecticut and in our country. We have some really great colleges and universities, both public and private, and to the extent that there are more grants given at those public and private universities to do scientific research, that will grow jobs in the future.

And the third thing that I would mention that is really key is getting a national energy policy for our country so that we can be growing green jobs not only in Connecticut but across our country. And that would also protect the environment and make our country safer.

The other point that I would make on job creation is the key to job creation in Connecticut and all across our country has been this: that small businesses have created the lion share of the new jobs. And we can quibble about the statistics. Some statistics say sixty six percent of the new jobs come from small businesses; others say ninety percent.

That’s my passion. My passion as Secretary of State for twelve years and my passion as someone who would like to serve in the United States Senate is to look for ways to support small businesses, to reduce some of the challenges that they face, because in the end, the lion’s share of the jobs have come from small businesses. And Washington just hasn’t gotten the job done with respect to small businesses.

[End of Part I of interview with Susan Bysiewicz.]

Click the following link for Part II of the Barefoot Accountant’s interview of Susan Bysiewicz, Connecticut Democratic candidate for the United States Senate: Fair Trade Agreements; Corporate Taxes; Repatriation of Corporate Profits; Corporate Control of Government; Clean Elections Law.

The Barefoot Accountant

About William Brighenti

William Brighenti is a Certified Public Accountant, Certified QuickBooks ProAdvisor, and Certified Business Valuation Analyst. Bill began his career in public accounting in 1979. Since then he has worked at various public accounting firms throughout Connecticut. Bill received a Master of Science in Professional Accounting degree from the University of Hartford, after attending the University of Connecticut and Central Connecticut State University for his Bachelor of Arts and Master of Arts degrees. He subsequently attended Purdue University for doctoral studies in Accounting and Quantitative Methods in Business. Bill has instructed graduate and undergraduate courses in Accounting, Auditing, and other subjects at the University of Hartford, Central Connecticut State University, Hartford State Technical College, and Purdue University. He also taught GMAT and CPA Exam Review Classes at the Stanley H. Kaplan Educational Center and at Person-Wolinsky, and is certified to teach trade-related subjects at Connecticut Vocational Technical Schools. His articles on tax and accounting have been published in several professional journals throughout the country as well as on several accounting websites. William was born and raised in New Britain, Connecticut, and served on the City's Board of Finance and Taxation as well as its City Plan Commission. In addition to the blog, Accounting and Taxes Simplified, Bill writes a blog, "The Barefoot Accountant", for the Accounting Web, a Sift Media publication.
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10 Responses to The Barefoot Accountant interviews Connecticut’s Democratic candidate for the United States Senate, Susan Bysiewicz. Video and transcript of interview, Part I: How the government can create jobs

  1. Pingback: Democratic US Senatorial Candidate, Susan Bysiewicz, from Connecticut: Interview on August 5, 2011 by Barefoot Accountant. Part I: How can we create jobs in Connecticut and America? | Connecticut Politics

  2. Joey says:

    Why is the unemployment rate dramatically lower in Massachusetts and New Hampshire? Connecticut, including career politician Bysiewicz, must be doing something to discourage small business.

    • As Secretary of State of Connecticut, I recall Susan Bysiewicz graciously appearing at groundbreakings of new businesses opening up. Unlike virtually all Republicans and many Democrats, who serve the multinational corporations that are ruining our country by sending all jobs and trade overseas, Susan Bysiewicz has stated her firm commitment to small businesses in the interview:

      “…the key to job creation in Connecticut and all across our country has been this: that small businesses have created the lion share of the new jobs…My passion as Secretary of State for twelve years and my passion as someone who would like to serve in the United States Senate is to look for ways to support small businesses, to reduce some of the challenges that they face, because in the end, the lion’s share of the jobs have come from small businesses. And Washington just hasn’t gotten the job done with respect to small businesses.”

      Perhaps you missed this. And as Secretary of State, she did not have an opportunity to create legislation favorable for small businesses.

      But I am pleased to hear that you are concerned for small businesses. If I had my way, I would prohibit mega-large businesses, invoking the Sherman Antitrust Act, and have mainly small businesses operating in America. Big business now owns our politicians; without them, we wouldn’t be in this mess now. And small businesses are not exporting all those jobs overseas.

      I would take issue with one point she made in the interview: she does not believe that government creates jobs. I believe that government does indeed create jobs and can be more active in doing such in a very productive way under the right leadership.

      The Barefoot Accountant
      Accountants CPA Hartford, Connecticut, LLC

  3. Jack S. says:

    “Right now Connecticut has crumbling roads and bridges, many of them have not been repaired work or fixed well since President Eisenhower built the highway system.” says Ms. B.

    What’s most astonishing about this statement is that it proves Ms. B hasn’t spent ANY time on our roads in her lifetime. Friends and relatives I have from out of state have told me multiple times CT’s state symbol should be a construction sign. Literally every time they’re here, they can’t believe that there’s big road repairs/renovations going on somewhere else.

    It also proves that Ms. B’s testimony….when she was seeking the AG’s office was no fluke. She really doesn’t know how to handle the media any better than when she testified, essesntially, that doing nothing but being admitted to the bar qualifies as active practice.

    As a Democrat, I beg members of our party….please….get her outta here!

    • I recall a couple of bridges collapsing and some newspaper articles reporting the poor, if not perilous condition, of others.

      Regarding the condition of roads, I recently had to replace a wheel on my car from a huge pothole. Many would dispute your assertion that our roads do not require significant investment in their repair and maintenance.

  4. Pingback: Barefoot Accountant’s interview of Susan Bysiewicz, Connecticut candidate for U.S. Senate. Part II: Fair Trade Agreements; Corporate Taxes; Corporate Control of Government | The Barefoot Accountant on Accounting, QuickBooks, Taxes, Money, and Politi

  5. Pingback: The Barefoot Accountant Interviews Susan Bysiewicz, Connecticut Democratic Candidate for United State Senate, Pt. 2: “We have the best tax code that money can buy” | Connecticut Politics

  6. Pingback: Connecticut Congressman Chris Murphy’s response to my question, what are you doing to create jobs? | The Barefoot Accountant on Accounting, QuickBooks, Taxes, Money, and Politics

  7. JoeG says:

    If CT wants jobs it should become a right to work state. There is no credible reason why a person should be forced to join a union as a condition of employment. This is hurting jobs and a contributing factor to why CT is hurting so bad economically. At a recent seminar I attended it was revealed that, CT is last in funding their pension plans, as the latest report has this under 50%!!! That is by far the worse in the whole nation. Also the state debt per resident is $46,000! California and Connecticut are consistently in the bottom two spots in almost every category of measuring the fiscal situation of the states. A lot of this has occurred because of the fact that the State uses voodoo accounting practices, where they break the CT law on balanced budgets, by taking money from the Rainy Day fund to balance the budget. Presto, budget is balanced. Problem with that, is that the Rainy Day Fund has a negative balance. Yes its broke. They balance the budget by taking from a fund with no net worth! You want jobs. Get the fiscal house in order. And shrink the federal government. For every dollar CT residents pay in federal taxes, CT gets 69 cents back. Essentially CT subsidizes other states and is going broke. And it certainly is time to audit the federal reserve. Your reference Bernie Sanders and Alan Grayson. They both demand an audit. I bet Susan is against it. The problem with government is not a result of lack of regulation, but a lack of transparency.

    • You are preaching to the choir with your comment. I agree totally. The reason that municipalities are going broke in Connecticut is because of the municipal and state employees unions with their ridiculous pension and medical benefit plans. Firemen can retire after 20 years making 85% of their highest salaries over the last five years: they typically work enormous overtime during those years, boosting their retirement benefits. The result: our Connecticut governments are going broke!

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