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Politics : Mainstream Politics and Economics -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (14009)	3/29/2012 8:51:50 PM
From: koan	Read Replies (1) \| Respond to of 85487

<<Texas also has a permanant fund (although not for 100 years). But as resource rich as Texas is, its less resource rich per person than Alaska. Alaska is two and a half times as big with a small fraction of the population. The population densities for each state Alaska 1.26/sq mi, Texas 98.1/sq mi, Texas is 78 times as dense. (And Texas is only middle of the pack in density, New Jersey has almost 1200 people per square mile, almost 1000 times as dense as Alaska, if Alaska was as dense as New Jersey than the US would have about as many people as India.)>> It doesn't matter how MUCH the Permanent fund impacts, what matters, is that we had enough sensitivity to save some of the oil money for future generations! We didn't just engage in a pig out and spend it all! <<The fund has little impact on politicans or state budgets except when oil prices were low. If money goes in to the fund it can't be spent right away, that restrains budgets in good times, without the fund structure (and without wise and disciplined politicians to restrain themselves without the fund), spending would be higher in good times.>> I know that is how you see it in the world in your minds eye, but it is not what is going on. There are two other accounts, the budget reserve account? and the constitutional reserve account? which together have over 10 billion in additional money the legislature could spend but doesn't.