Click above to read ISER Web Note 14.
Two years ago the University of Alaska – Anchorage Institute of Social and Economic Research (ISER), the state’s best economic think tank, said this:
“Right now, the state is on a path it can’t sustain. … Reasonable assumptions … suggest we do not have enough cash in reserves to avoid a severe fiscal crunch soon after 2023, and with that fiscal crisis will come an economic crash.” ISER also offered a solution. “What can the state do to avoid a major fiscal and economic crisis? The answer is to save more and restrict the rate of spending growth. All revenues above the sustainable spending level of $5.5 … would be channeled into savings.”
Publisher’s Note: This is the second in a continuing series of guest columns by various state-level candidates who are focusing in this election cycle on the issues relevant to this blog — Alaska oil, gas and fiscal policy. The first was by Alaska Constitution Party candidate for Governor J.R. Myers, and is available here. The following is from the Alaska Libertarian Party candidate for Governor, Care Clift (website, Facebook). The reason for publishing these pieces is explained in greater detail in the preamble to the previous piece from J.R. Myers. Continue reading
Alaska’s fiscal dilemma in a nutshell (and an opportunity to learn a lot more about it) …. To learn more about the event, click here.
Publisher’s Note: In a 2010 editorial the Wall St. Journal had this to say looking back at the 2006 loss by Republicans of the U.S. House of Representatives: “It isn’t easy to spend so much money so egregiously that even Nancy Pelosi could campaign as a relative fiscal conservative, but the Tom DeLay Republicans managed the feat in 2006.” Daniel Hamm writes below about seeing the same in this year’s Alaska legislative races. Continue reading