April 28, 2009                                                       

Weitzman joins with top experts for briefing on economy

Nassau County Comptroller Howard S. Weitzman was a panelist this week at a briefing on the economy, hosted by the New York State Society of Certified Public Accountants. The roundtable discussion took place at 3 Park Avenue at 34th Street, 19th Floor in New York and was webcast live.

Weitzman joined a panel of experts in exploring the causes of the current economic crisis, prospects for recovery, the impact of the Stimulus Plan on growth and equity markets and the economies of city and county governments.

The Comptroller spoke about how falling sales tax numbers are a direct result of consumers’ unwillingness to spend money.

“Sales tax dropped off a cliff in the last quarter last year,” he said. “It was like everyone got a Twitter: stay home; don’t buy.”      

Most of the panelist agreed that talk of a recovery is still yet premature.

"People are putting their money away and paying down debt,” Weitzman said. On a positive note, however, he added that unemployment and foreclosure rates in Nassau County are still well under the national average.

Other panelists included Dean Baker, co-director of the Center for Economic and Policy Research in Washington, D.C.; John Finnerty, Professor of Finance, Fordham University and Finnerty Economic Consulting, LLC; and Timothy P. Speiss, MST CPA/PFS RIA, Eisner, LLP. The panel was moderated by Mark Lieberman, senior economist for the Fox Business Network.

Comptroller Weitzman was the first CPA ever elected to the office of Nassau County Comptroller.