4 takeaways from the NYS comptroller Democratic primary debate

ALBANY — The three Democrats vying to be the party’s nominee for state comptroller met in a one-hour debate Thursday that was at times as wonky as it was feisty.

Incumbent Comptroller Thomas DiNapoli and challengers Drew Warshaw, a former affordable housing executive, and Raj Goyle, a former state legislator from Kansas, battled over how they would manage the state’s $295 billion pension fund and what role a state comptroller should play.

The debate was a condition for receiving funding under the state’s public campaign finance program. This cycle is the first time statewide officials are eligible to participate in the program.

The winner of the June 23 primary election will face Republican Joseph Hernandez.

Here are some takeaways from the debate.

The challengers see a new role for the office

The two challengers have a much more activist view of how the state comptroller’s office should operate than DiNapoli.

They argued the state pension fund should divest from fossil fuels, companies such as Palantir that contract with the U.S. Immigration and Customs Enforcement, as well as investments that support Israel.

“We need change in someone who's forward thinking, who will tackle the supportability crisis, lowering utility prices, building housing, investing in child care, and getting ICE the hell out of New York,” Goyle, 50, said.

Both challengers also want to reduce outside fees the state comptroller’s office pays to Wall Street firms to manage some private investments. They argue the money could be better spent elsewhere and the pension fund further managed in-house.

Warshaw, 45, in particular attacked DiNapoli for relying on the financial managers, arguing it was a giveaway of state taxpayer dollars.

“I would invest in low-cost, practically free diversified index funds and then we would create the largest affordable housing fund in the United States of America,” Warshaw said.

DiNapoli, 72, said the two men didn’t understand the office they were running for.

“You guys are living in a fantasy land, and you're going to destroy the pension fund, and you're going to destroy the retirement security that I've worked 20 years to build up for everyday people in New York,” he said.

DiNapoli focused on his experience

DiNapoli, of Great Neck Plaza, is seeking his sixth term in office since being appointed state comptroller in 2007. As part of the debate rules, candidates were offered a chance to reply if another candidate attacked them during an answer.

With two challengers, it gave DiNapoli plenty of opportunity to remind viewers of how he had managed the office and of his long-standing support with influential labor unions.

And DiNapoli used one of his favorite lines, reminding voters that the state pension fund is fully funded, which is a requirement under state law.

Trump looms large

It wouldn’t be a Democratic debate without President Donald Trump’s policies playing a role.

Goyle in particular attacked DiNapoli for not using the bully pulpit of his office to push back against federal policies affecting New Yorkers.

“Yes, we should, of course, tax the rich, but we need … a chief financial officer who is in the game fighting Donald Trump on every step of the way,” Goyle said.

DiNapoli argued he has done just that and that the best course of action was to further shore up the state’s reserves to weather any potential economic fallout from Trump policies.

Few revelations in the lightning round

The last part of the debate was a series of quick-answer questions which appeared to stump the candidates. Those questions can give voters insight into a candidate’s personality and force them to give unrehearsed answers.

All three of the candidates stumbled a bit when it came to personal questions.

When asked about the most regrettable impulse purchase they had made, Warshaw said he didn’t buy much. DiNapoli confessed to a weakness for Lipton onion dip and Goyle admitted to ordering too much pizza.

On the question of whether there should be a state debt limit, only Warshaw said no. None of the three candidates said they invested in cryptocurrencies and all three said they regularly took the New York City subway.