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After two years of kicking the can down the road, this may be the year the Legislature finally gets serious about closing the budget gap. For two years, action in the Alaska House and Senate has focused primarily on cuts, which has reduced the yearly deficit from $4 billion to $3 billion but can go little further without substantial negative impact to the state's core services — items such as education, transportation and public safety. Finally, there appears to be an emerging recognition by legislators that new revenue for the state is an a...
Alaskans appear to be engaged about the fiscal precariousness of our state unlike in past financial meltdowns. Perhaps it's because of the massive scale of the budget deficit the state faces in the next fiscal year, which starts June 1. How big is it? An estimated $4 billion as of today, if the Legislature doesn't act either on Gov. Bill Walker's proposals or something comparable of its own making. Alaska has enough money in its savings accounts _ not counting the principal of the Alaska Permanent Fund _ to cover the gap, but the money in...
