Alaska Darin Posted April 27, 2005 Share Posted April 27, 2005 Our budget is based on oil prices being about $18 a barrell. For over a year our oil has averaged about $50 a barrell. Which means we are literally awash in money. 1. There is over $2,100,000,000.00 in the state's budget reserve. 2. They are projecting a surplus estimated between $450,000,000.00 and $1,000,000,000.00 THIS YEAR. What does this mean? Well, to our "conservative" republican governor and legislature it means go after the Permanent Fund. That's right. They passed a bill through the state senate authorizing $300,000,000.00+ in spending of money taken directly from the Permanent Fund. The House is actually RAISING that number by FIFTY PERCENT, to over $450,000,000.00. This is, of course, completely contrary to their campaign "promise" of never touching the permanent fund without a vote of the people. They KNOW they'll never get the 60% required to do it, so they're using the backdoor. This is what happens when you give POLITICIANS money. Regardless of party. Ridiculous. Link to comment Share on other sites More sharing options...
Campy Posted April 27, 2005 Share Posted April 27, 2005 What is the purpose of the Permanent Fund? Why was it established? Link to comment Share on other sites More sharing options...
John Adams Posted April 27, 2005 Share Posted April 27, 2005 Do the Feds know about that 2 billion? Watch out Alaska- here comes Washington. Link to comment Share on other sites More sharing options...
Rich in Ohio Posted April 27, 2005 Share Posted April 27, 2005 If the funds are going to be used to improve or build new infrastructure then I say what is the big deal. As long as it is used in a productive way. Too much surplus becomes wasteful. Now if it is going to be used for basketball courst and nonesense like that then I would say the polititians up there need to be sent to the corner for a time out. Link to comment Share on other sites More sharing options...
Alaska Darin Posted April 27, 2005 Author Share Posted April 27, 2005 What is the purpose of the Permanent Fund? Why was it established? 321140[/snapback] Alaska's Permanent Fund Link to comment Share on other sites More sharing options...
Alaska Darin Posted April 27, 2005 Author Share Posted April 27, 2005 If the funds are going to be used to improve or build new infrastructure then I say what is the big deal. As long as it is used in a productive way. Too much surplus becomes wasteful. Now if it is going to be used for basketball courst and nonesense like that then I would say the polititians up there need to be sent to the corner for a time out. 321216[/snapback] Way to go Rich. Defend them 'til the end despite not having a clue what you're talking about. Despite ALREADY having a surplus that will be at least a HALF a BILLION dollars, they are trying to get ANOTHER HALF a BILLION dollars from the Permanent Fund. That means they are going actually going to overspend the budget this year, despite the fact that they've taken in more money than at any time in state history. Try likening it to California, back in the Gray Davis days. The economy was awesome and California was taking in a ton of surplus money. Then the economy tanked and you and fellow Republicans went crazy and got Davis ousted. Now that the shoe is on the other foot, you defend to the end. Unreal. Pass the tropical punch. Link to comment Share on other sites More sharing options...
John Adams Posted April 27, 2005 Share Posted April 27, 2005 If the funds are going to be used to improve or build new infrastructure then I say what is the big deal. As long as it is used in a productive way. Too much surplus becomes wasteful. Now if it is going to be used for basketball courst and nonesense like that then I would say the polititians up there need to be sent to the corner for a time out. 321216[/snapback] Spendy McSpend: you are the poster child Republican, without a doubt. Link to comment Share on other sites More sharing options...
Recommended Posts