To many of us, readers as well as reporters, sources in news stories are just names. And sometimes in our coverage of financial and regulatory stories, we aren't even given that — the advisers and analysts toiling behind the scenes to provide research and data remain nameless.
But today, we must mention the name of one — Ed Lorenzen, a senior adviser with The Committee for a Responsible Federal Budget. Sadly, it's due to his death.
We did not know him, but research that Lorenzen and his colleagues produced at CRFB has helped to provide perspective in financial stories we've covered. As recently as yesterday, financial journalist Nick Thornton was studying PAYGO briefs and their relevance to a potential bailout for PBGC in budget negotiations—briefs that may have been authored by Lorenzen.
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Lorenzen served for two decades on Capitol Hill, including working as a Congressional staff person and as a policy adviser to the House Majority Leader, and he helped to write the Statutory Pay-As-You-Go Act (PAYGO) of 2010.
Last Friday, he died in a house fire, trying to rescue his 4 year-old son, Michael, according to local reports. His 12 year-old son and 2 year-old daughter were able to get out of the house in time. A family friend said Lorenzen was found with his son in his arms, one report said.
In a statement released by the CRFB, quoted in part below, president Maya MacGuineas paid tribute to Lorenzen:
"We are stunned and heartbroken. It is hard to process such an unbelievable tragedy. Our office will never be the same.
"To us, Ed was Captain PAYGO – a nickname earned from his Twitter handle and work writing the 2010 PAYGO law – the author of a subtle, legendary wit that could not be matched by anyone.
"To his children, Ed was a real superhero. We worked every day with a kind, loving man who cherished his three kids, bringing them to the office on occasion and lighting up in their presence and at the sound of their names.
"To our nation, he was a brilliant budget mind – his guidance and expertise is a void that cannot be filled. He could recite budget law like a poet….
"It is moments like these that you realize oftentimes you spend more time with the people you work with than your own family, and they become so familiar in your daily life that you cannot imagine rounding the corner and not seeing their smile or hearing their voice."
In America, we are taught that actions speak louder than words. In a time when boastful words are news, and swagger is the action that gets attention, we are moved by a man who worked behind the scenes, was beloved by his coworkers, and committed the ultimate action, giving his life for the ones he loved.
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