Franchot Describes State Economy as on 'Very Shaky Ground'

"Economists are increasingly concerned about the prospects of a national recession, and so am I," Maryland Comptroller Peter Franchot said. (By Richard A. Lipski/Post)
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Franchot's speech before about 100 business leaders in the marble lobby of Chevy Chase Bank's downtown Bethesda corporate headquarters marked the first time in recent history that the state comptroller delivered a State of the Treasury address.

Franchot has taken an aggressive approach to his first year in office, carving out a more public profile than is traditional for the comptroller and frequently butting heads with O'Malley and other top state officials.

The comptroller -- whose office collects taxes, among other duties -- is constitutionally required to report to the General Assembly each year on the financial health of the state. But Franchot's recent predecessors did not deliver their economic outlooks in such a formal setting.

The speech came less than a week before O'Malley is to deliver his State of the State address before the legislature. Asked yesterday about Franchot's speech, O'Malley declined to comment. The governor said he would reserve his remarks for his speech.

Baltimore Mayor Shelia Dixon (D) said of the State of the Treasury address that she has "never heard of this before."

"But I think the comptroller's office is very significant," said Dixon, who attended yesterday's event. "I think you have to have a balance of perspective from the comptroller, who's the fiscal watchdog, and the governor."

Montgomery County Executive Isiah Leggett (D), also in attendance, added: "We have not had a comptroller by the name of Peter Franchot. He's doing things differently. This is his style."

Staff writer John Wagner contributed to this report.