Sims scores with King County's credit rating

Ron Sims has showed us again and again that we can trust his leadership and sound judgment in leading King County to a brighter future.

Today, our dynamic and empowering County Executive delivered the 2006 Budget Address to the King County Council. As David Goldstein of HorsesAss.org notes:

One little tidbit that immediately jumps off the page is the news that Standard & Poor’s has upgraded the county’s general obligation bond rating to AAA. For the first time in its history, the county now enjoys the highest rating of financial stability awarded by all three major ratings agencies… and one of the highest municipal ratings in the nation

Under the leadership of Ron Sims, King County's financial standing has been improved and now enjoys an excellent reputation. Clearly, our current county executive is extremely well qualified when it comes to sound financial management. We can trust him to keep King County government fiscally responsible and accountable to taxpayers.

Last week, Standard & Poor's applauded the county's performance in its announcement of the rating upgrade:

"From 2000 to 2005, King County experienced economic fluctuation; it was also during this time period that a significant statewide property tax limitation initiative was introduced," said Standard & Poor's credit analyst Gabriel Petek.

"In the midst of these challenges, the county has effectively achieved ongoing structural budget balance while continuing to incrementally increase its reserve levels in recognition of the need for financial cushion in an environment of limited revenue flexibility," he added. "Moreover, the county has taken steps to address potential challenges to its very strong fiscal position. For instance, the county is facilitating the incorporation or annexation of unincorporated-but-urban areas within its limits--areas that are effectively subsidized by county services under the current regime."

Ron has the courage and the vision to lead King County through the best and worst times. This November, King County voters have a clear choice between a strong leader with a proven track record and a challenger who offers little more than claims and rhetoric:

Challenger David Irons says he wants to run the county more like a business, touting his exaggerated resume as preparation for running a government larger than that of thirteen states. But when voters go to the polls to choose who’s best qualified to manage the county’s $3.4 billion budget, I’m guessing they’ll stick with Sims, the executive who has led King County to the highest bond ratings in its history, at a time when many other municipalities around the state are bordering on bankruptcy.

County Executive Sims has earned a strong commendation from us and others for delivering such outstanding leadership during tough economic times:

...By setting the county on such a sound financial footing at a time when revenues were shrinking and costs were skyrocketing, Sims deserves just as much credit as he’s earned for the county.

Ron Sims wants to continue working for us. Voters ought to give him that opportunity and reelect him for another term.