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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (546068)	1/25/2010 8:54:14 PM
From: koan	Read Replies (3) \| Respond to of 1577913

We saved 25% of all our resource money in that government program for the last 30 years. Other states could have done that. California produced huge amounts of oil. But the right wing does not like government programs. We had to fight them like hell up here to get our govenrment Permanent Fund. We are not introuble. Besides our permanent fund, we have two other funds with billions in them. IN 2007 alone we had so much extra cash we put 5 billion in our undistributed income account. We can borrow from that account for years until oil prices rise or we start pumping gas, or start producing gold or coal or stck marekt rises. We put 25% of all state resource revenue in our permanent fund for the kids forever. And politicans cannot touch it, only the revenue. And we inflation proof it every year. And diversify it. And we do not allow investmnts in state so the criminal politicans cannot get their hands on it. We thought of everything. Or the stock market rises. Our permanent fund is growing faster than our population. >>Alaska is in the best shape financially of any state in the union It has a lot of oil, a fairly small population, and was not one of the places where the real-estate market had the biggest bubble. But its still facing a budget gap of around $1900 per person for 2010, and maybe half as much for 2011 after having budget problems in 2009. (see sunshinereview.org ) Not the fiscal crisis CA has, but hardly perfection, and essentially irrelevant to the idea you seem to be implying that government should direct more and more of the countries investment, or that we should casually dismiss the problems from massive state spending because Alaska sends out checks from all the money it gets from the oil industry.