WASHINGTON, D.C., MARCH 26, 2012–As an entrepreneur and founder of the highly successful Passport Capital LLC, John H. Burbank paid little attention to politics until the financial crash of 2008. That’s when he began analyzing the federal government’s fiscal condition.
Burbank, who is chief investment officer and managing member of his San Francisco-based company, concluded that the country was on an “unsustainable path” of debt and deficits, which neither Republicans nor Democrats have an incentive to correct. That view led him to join the Board of Advisors of Americans Elect, which is challenging the two-party system by nominating a third choice for president through the nation’s first nonpartisan online primary this June.
“The two parties are satisfied with the dysfunctional situation we have now,” Burbank said. “The idea behind Americans Elect is to force the two parties to the center where they will compromise, so we can move forward to reduce debt, set a sound immigration policy, resolve our energy shortages, encourage greater economic growth, and make America a leader again on all fronts–industry, labor and technology.”
“The internet is breaking open closed systems, revealing broken models, and making information available to the average person. Americans Elect offers the opportunity to use that powerful tool to get the government and political parties do what they are supposed to do–work for all of us.”