Michael Pakko

Michael Pakko

Libertarian Party of Arkansas Chair

Tenure

Present officeholder

Elections and appointments

Last election

November 5, 2024

Education

Bachelor's

Michigan State University, 1984

Ph.D

University of Rochester, 1994

Personal

Birthplace

Kalamazoo, Mich.

Profession

Economist

Contact

Campaign website

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Michael Pakko is an officeholder of the Libertarian Party of Arkansas Chair.

Pakko (Libertarian Party) ran in a special election for Arkansas Treasurer. He lost in the special general election on November 5, 2024.

Pakko completed Ballotpedia's Candidate Connection survey in 2024. Click here to read the survey answers.

Biography

Michael Pakko was born in Kalamazoo, Michigan. He earned a bachelor's degree from Michigan State University in 1984 and a Ph.D. from the University of Rochester in 1994. His career experience includes working as an economist.

Elections

2024

See also: Arkansas Treasurer election, 2024

General election

Special general election for Arkansas Treasurer

John Thurston defeated John Pagan and Michael Pakko in the special general election for Arkansas Treasurer on November 5, 2024.

		Candidate	%	Votes
✔		John Thurston (R)	65.4	755,156
		John Pagan (D)	30.3	350,210
		Michael Pakko (L)	4.3	49,847

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	There were no incumbents in this race. The results have been certified. Source	Total votes: 1,155,213
= candidate completed the Ballotpedia Candidate Connection survey.
If you are a candidate and would like to tell readers and voters more about why they should vote for you, complete the Ballotpedia Candidate Connection Survey.
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Democratic primary election

Special Democratic primary for Arkansas Treasurer

John Pagan advanced from the special Democratic primary for Arkansas Treasurer on March 5, 2024.

		Candidate
✔		John Pagan

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	There were no incumbents in this race. The results have been certified. Source
= candidate completed the Ballotpedia Candidate Connection survey.
If you are a candidate and would like to tell readers and voters more about why they should vote for you, complete the Ballotpedia Candidate Connection Survey.
Do you want a spreadsheet of this type of data? Contact our sales team.

Republican primary election

Special Republican primary for Arkansas Treasurer

John Thurston advanced from the special Republican primary for Arkansas Treasurer on March 5, 2024.

		Candidate
✔		John Thurston

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	There were no incumbents in this race. The results have been certified. Source
= candidate completed the Ballotpedia Candidate Connection survey.
If you are a candidate and would like to tell readers and voters more about why they should vote for you, complete the Ballotpedia Candidate Connection Survey.
Do you want a spreadsheet of this type of data? Contact our sales team.

Libertarian convention

Special Libertarian convention for Arkansas Treasurer

Michael Pakko advanced from the special Libertarian convention for Arkansas Treasurer on February 25, 2024.

		Candidate
✔		Michael Pakko (L)

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	There were no incumbents in this race. The results have been certified. Source
= candidate completed the Ballotpedia Candidate Connection survey.
If you are a candidate and would like to tell readers and voters more about why they should vote for you, complete the Ballotpedia Candidate Connection Survey.
Do you want a spreadsheet of this type of data? Contact our sales team.

Endorsements

Ballotpedia did not identify endorsements for Pakko in this election.

Campaign themes

2024

Ballotpedia survey responses

See also: Ballotpedia's Candidate Connection

Michael Pakko completed Ballotpedia's Candidate Connection survey in 2024. The survey questions appear in bold and are followed by Pakko's responses. Candidates are asked three required questions for this survey, but they may answer additional optional questions as well.

Expand all | Collapse all

Who are you? Tell us about yourself.

I am running for State Treasurer because I believe I have the experience and expertise not only to take on the required tasks of the office, but also to add value by enhancing the office’s public profile. In particular, I will use my skills as an economist, data analyst, and communicator to provide greater “fiscal transparency” to the Treasurer’s office and state government finances.

Please list below 3 key messages of your campaign. What are the main points you want voters to remember about your goals for your time in office?

• I have the expertise and experience to take on the task of Treasurer:

  PhD in Economics - After studying public policy and economics at Michigan State University, I went on to earn my MA and PhD from the University of Rochester.

  Experience in the Federal Reserve - Including my time as an undergraduate intern, research assistant, research economist, and officer, I spent nearly 20 years in the Federal Reserve system.

  Arkansas Economist - For the past 15 years, I have been engaged in providing information and analysis about the Arkansas economy.
• I seek not only to carry out the administrative responsibilities of State Treasurer, but also to bring a higher public profile to the office. In particular, I will use my skills as an economist, data analyst, and communicator to provide greater “fiscal transparency” to the Treasurer’s office and state government finances. I would make it my mission to bring information and analysis of state finances to my stakeholders: the people of Arkansas.
• I'm not a Republican and not a Democrat. In considering the choice of who to elect as State Treasurer--the public official responsible for overseeing the people's hard-earned tax dollars--perhaps the best person for the position is someone who is NOT part of the two-party system that has monopolized our government for over 150 years. If you share my belief that the two-party system has led us into a dead-end of bickering, posturing, hyper-partisan politicians running our government, then express your dissatisfaction with a vote of support for a candidate representing an alternative.

What areas of public policy are you personally passionate about?

Government transparency. Fiscal transparency.

What qualities does this office possess that makes it a unique and important part of the state government and legal system?

The Treasurer of State is an independent constitutional office in Arkansas, accountable to the people. I pledge to be a diligent steward of the people's treasury and an advocate for fiscal transparency.

What do you believe are the core responsibilities for someone elected to this office?

As a specialized constitutional office of the state, the Treasurer should have the credentials and experience necessary to lead an important arm of our state government. The Treasurer of State serves as the State’s banker and is responsible for an investment portfolio of about $9 billion. my resume shows that he has the skills and knowledge to take on that task.

What is the first historical event that happened in your lifetime that you remember? How old were you at the time?

I remember two political events that happened when I was a child.

First, I remember when President Lyndon Johnson was on TV, saying that he would not run for reelection. I was aware that it was a momentous event. At the tender age of 7, I had already begun to fear a future in which I would be drafted and sent to the jungles of Vietnam.

Six years later, I was captivated by watching the Watergate scandal unfold. I was only 13 years old, but the drama of the story drew me in. I remember watching Nixon's farewell address to the White House staff and thinking what a tragic character he was. It was not until years later, after learning about Shakespearian tragedy, that I understood how true that sentiment was.

These were two examples of historic events that shaped my view of politics and public service. In both cases, the will of the people and the demand for accountability in their elected officials overwhelmed the hubris of the powerful politicians.

What responsibilities of this office do you personally consider the most important?

The Treasurer of State serves as the State’s banker and is responsible for an investment portfolio of about $9 billion. My resume shows that he has the skills and knowledge to take on that task.

Are there any little-known powers or responsibilities held by this office that you believe more people should be aware of?

The State Treasurer serves on several boards and commissions, including serving as chair of the Arkansas Financial Education Commission. As a lifelong educator and advocate for economic and financial literacy I will work to invigorate the efforts of the Commission, seeking to bring together public and private organizations to coordinate their efforts "to provide a unified effort to improve financial awareness throughout the state"

Do you believe that it's beneficial for holders of this office to have previous experience in government or politics?

The Treasurer of State is responsible for overseeing the state's finances, requiring specialized expertise. Yet the candidates seeking the office are typically career politicians. Often, their campaigns emphasize previous political experience.

But the fact of the matter is that the Treasurer's office is staffed by career professionals who maintain all the books and compile all the required reports. The State Treasurer is just the politically-elected CEO of this operation. In business, the role of a CEO includes making sure that the operating officers of the organization are doing their jobs, with the ability to step in and help when necessary. But primarily, the CEO addresses the outside environment of the organization—its stakeholders. In this case, the stakeholders are the voters.

That's why I see the role of State Treasurer as requiring a different skill-set than held by a typical career politician. Previous experience in government of politics is secondary to the qualifications required for understanding and directing policies on state finances, and for clearly communicating those policies to the public.

What kind of skills or expertise do you believe would be the most helpful for the holders of this office to possess?

Understanding of finance and economics.

Analytical and technical skills to evaluate the state's investment policies.

Ability to communicate effectively.

Tell us your favorite joke.

"An economist, a chemist, and an engineer were stranded on a desert island. And between them they had only a single can of beans, but no can opener. The engineer suggested that he climb a palm tree to a precise height, then throw the beans a precise distance at a precise angle. 'And when the can hits,' he said, 'it will split open.' 'No,' said the chemist. 'We'll leave the can in the sun until the heat causes the beans to expand so much the can will explode.' 'Nonsense,' said the economist. 'Using either method we'd lose too many beans. According to my plan, there will be no mess or fuss and not a single bean will be lost.' Well, the engineer and the chemist said, 'We're certainly willing to consider it. What's your plan?' And the economist answered, 'Well, first assume we have a can opener.'"

- Ronald Reagan's version of a classic joke about economists.

What are your views on financial transparency and government accountability?

Financial transparency and government accountability are the cornerstones of my campaign.

As Arkansas Treasurer of State, I would make it my mission to bring information and analysis of state finances to my stakeholders: the people of Arkansas. The Treasurer of State is in a unique position to explain to the taxpayers of Arkansas where ALL of their tax dollars are going. That is why I propose making the office of Treasurer of State a portal of transparency for state government finances.

Note: Ballotpedia reserves the right to edit Candidate Connection survey responses. Any edits made by Ballotpedia will be clearly marked with [brackets] for the public. If the candidate disagrees with an edit, he or she may request the full removal of the survey response from Ballotpedia.org. Ballotpedia does not edit or correct typographical errors unless the candidate's campaign requests it.

Campaign finance summary

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Note: The finance data shown here comes from the disclosures required of candidates and parties. Depending on the election or state, this may represent only a portion of all the funds spent on their behalf. Satellite spending groups may or may not have expended funds related to the candidate or politician on whose page you are reading this disclaimer. Campaign finance data from elections may be incomplete. For elections to federal offices, complete data can be found at the FEC website. Click here for more on federal campaign finance law and here for more on state campaign finance law.

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Michael Pakko campaign contribution history

Year	Office	Status	Contributions	Expenditures
2024*	Arkansas Treasurer	Lost general	$22,379	$0
Grand total			$22,379	$0
Sources: OpenSecrets,  Federal Elections Commission ***This product uses the openFEC API but is not endorsed or certified by the Federal Election Commission (FEC).
* Data from this year may not be complete

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