Sorted by date Results 1 - 1 of 1
By now, most of you know we have a budget challenge: Over the past two years, Alaska’s oil revenue has plummeted by 88 percent, mainly due to a sharp drop in oil prices. We’ve cut the budget from $8 billion in 2012 to $4.8 billion. Despite these reductions, our deficit amounts to more than half our annual budget. If we do nothing, we’re on a course to drain the constitutional budget reserve within two years – and the permanent fund earnings reserve within another two years. Dividends would likely end within four years, and we’ll be left with...