Daily Archives: November 29, 2014

Fiscal leadership needed now …

Fiscal Cliff (pulling back)In August 2006, staring into a potential fiscal abyss created by an unplanned shutdown of the entire Prudhoe Bay field due to leak issues,  then Governor Frank Murkowski immediately announced two steps designed to curb state spending and reduce the potential drain on state savings, while additional analysis was being done.

The first step was an immediate freeze on new state hires.  The second was to direct the Office of Management and Budget to review the then-current capital budget to prepare a list of capital projects that could be “phased” (i.e., deferred) until the potential fiscal problems created by the shutdown were “better defined.” Continue reading