Gubernatorial candidate’s money plan key to his campaign

Published 5:50 am Monday, June 7, 2010

Like most candidates for public office, Leslie Davis has a position on the issues of the day. Davis, who aims to become the Republican candidate for Minnesota governor by winning a primary on Aug. 10, will talk about his beliefs on guns, reproductive rights and nuclear power.

But the centerpiece of his campaign is an idea for righting the economy that he calls “The Davis Money Plan.”

Davis, along with Austin resident Gregory Soderberg, a candidate for lieutenant governor, was in Austin on Friday to talk with city leaders and the media about his economic plan and candidacy.

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If elected, Davis said, he would push for legislation to exempt state-regulated banks from needing deposits to create “new money.” Much simplified, the plan would work like this: Free to create money, state-chartered banks would put funds into the state treasury to pay for construction and maintenance of Minnesota roads and bridges. Those projects would, in turn, create jobs and a boost to the economy.

Benefits, Davis and Soderberg said, would include a balanced state budget, jobs for thousands, increased state revenues and state-of-the-art roads and bridges.

The alternative, they believe, is a looming financial disaster fueled by increasing personal and institutional debt.

The candidates acknowledge that the details and economic theory underlying their plan are more than most voters will care to absorb. But they expect to sway those who are willing to dig into the details and hope to earn the trust of those don’t. “We don’t expect (all the voters) to understand,” Davis said. “We’re expecting them to trust us. We’re out there on the line for the people.”

“Most people aren’t going to know what happened (if the Davis Money Plan is put into action),” Soderberg said. “They’re just going to say, ‘Man, I’ve got a job.’ ”

Davis and Soderberg point to their backgrounds — both are veterans, both have long experience in business and marketing — as reasons for trusting them to govern well. “We’re regular people who care — about somebody besides themselves,” Soderberg said.

Soderberg worked in sales at KAUS radio in Austin for many years and is now with KRPR, Rochester Public Radio.

Davis worked in sales and marketing, is the founder of Earth Protectors, is an author and hosts the Leslie Davis Show on cable television.

More on the Davis Money Plan and the candidates at