Guerrero, Jack

Running For:

Treasurer

Political Affiliation:

Republican

Phone:

(323) 821-2670

Age:

48

Occupation:

Certified Public Accountant, Economist

Education:

Stanford University (BA, Economics), Harvard University (MBA)

Biographical Info:

Jack Guerrero brings a unique combination of public and private sector experience, with a quintessential American story. Jack’s experience as Mayor, City Councilmember, Certified Public Accountant (CPA), Stanford economics graduate, Harvard MBA, Bank Vice President, Treasury professional, auditor of municipalities and government agencies, investment banker, and M&A due diligence advisor to Fortune 500 companies (with professional stints in New York, San Francisco, Los Angeles, London, and Zurich) – establishes him as the candidate with BOTH Treasury experience AND a public service record of fighting for taxpayers and working people. Jack is the son of hard-working Mexican immigrant parents -- farmworkers and later, factory workers who settled in Los Angeles. Jack was raised in a tough neighborhood in southeast Los Angeles County, surrounded by poverty, gangs, and decrepit public schools. As a young boy, Jack was determined to escape poverty, obtain a quality university education, and seek a better life for himself and his family. At the age of 15, Jack enrolled at university to supplement his high school education, and subsequently graduated from Stanford University and Harvard Business School. Jack is a proud American patriot, forever grateful to our country for the educational opportunities conferred on him, and dedicated to expanding similar opportunities for others. Jack serves on numerous Boards for public agencies and non-profit organizations, and is active in scholarship and university recruitment efforts in underprivileged communities.

Statement:

California’s financial crisis is the consequence of severe mismanagement and poor leadership by reckless politicians. Our credit rating ranks near the bottom with only six states in a worse predicament (including Illinois which is just about to fall apart for the same trajectory of mismanagement now afflicting California). Our reliance on debt is greater than ever, with higher interest payments both in absolute dollars and as share of the state’s budget. Our debt-to-GDP ratio now approximates the levels experienced by peripheral Euro-zone countries which just 10 years ago faced austerity measures and near collapse. Unfunded pension liabilities now exceed a staggering $1 trillion, presenting the single greatest threat to the long-term financial stability of the state. Our business climate is the worst in the country, with excessive taxation, crippling fees, and burdensome regulations destroying jobs and livelihoods and contributing to unprecedented levels of migration from California to more favorable states. The list goes on… As Mayor and Council Member of a working class community in southeast Los Angeles County (where nearly one-third of my constituents live in poverty), I have observed first-hand the pernicious effects of failed policies by state government. Like most of my hard-working residents, I have had enough! I believe the time has come for an independent watchdog (free from the single-party political apparatus of Sacramento) to serve as a check and balance on a state government run amok. I feel called in this moment to step forward as the candidate of the people, to restore public trust, and to advocate for policies that place citizens first.