Michael Barone, Senior Writer, U.S. News and World Report,
Speaks at the ACCF Association Council Spring Meeting

ACCF Capital Formation Forum
May 2005

Members of the ACCF Association Council met on May 22 to consider the capital formation impact of important economic policy issues now before Congress. Marc Lackritz, president of the Securities Industry Association and cochairman of the Association Council, led the discussion of short- and long-term tax policy issues on the agendas of the Administration and Congress. Lisa McGreevy, executive vice president, Government Affairs Council, The Financial Services Roundtable, and John Endean, president, American Business Conference, assessed the impact of the Sarbanes/Oxley legislation on U.S. business. Red Cavaney, president and chief executive officer, American Petroleum Institute and cochairman of the ACCF Association Council, and Thomas R. Kuhn, president, Edison Electric Institute, shared their views on the outlook for energy policy in this session of Congress. Margo Thorning, ACCF senior vice president and chief economist, led a discussion of the goals policymakers should set for Social Security. Mark Bloomfield, ACCF president and chief executive officer, discussed the programs the ACCF offers its association members, including ACCF Economic Policy Evenings and the opportunity to network with their peers in other industries through ACCF activities. He also described a new ACCF program, the ACCF – Executive Roundtable, which is designed to bring young executives with an interest in public policy on board as ACCF members.

Michael Barone, senior writer, U.S. News and World Report, and coauthor of The Almanac of American Politics, addressed members of the ACCF Association Council at the luncheon session of the meeting. Mr. Barone, a highly regarded pollster and long-time observer of the Washington political scene, noted that the 2004 election had made significant changes in American politics, including a substantial increase in the number of voters. Both parties worked to get out the vote, but the GOP was more successful.

As a result, President Bush received 23 percent more votes in 2004 than in the 2000 election, while Senator Kerry’s total was 16 percent higher than Vice President Gore amassed in 2000. “The electorate has changed. The Democrats now realize they have to win votes from the new electorate and just saying no doesn’t work,” Mr. Barone said.