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Securing AlaskasFuture:Immediate Action
Needed 1
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Alaskas Future
We are: a statewide coalition of Alaskans joined togetherto
promote a solution to the budget decit that threatensAlaskas
future.Co-Chairs Eleanor Andrews, Vince Beltrami A! AF"-C#$%,
&on'uncan (C#%, (o)ernor *on+ !nowles, Sohie inich C#%,
Ste)eFrank Former State Senator%
We agree: every conceivable solution to Alaskas budgetdecit
requires using ermanent Fund earnings to supportessential public
services.
$ur ission: cultivate the broad based public supportnecessary to
convince the !egislature in this session touse ermanent Fund
earnings to support essential publicservices while maintaining a
sustainable dividend and ahealthy ermanent Fund. This is the frst
step toward a
stable economic oundation or Alaska. #
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Dependence =Vulnerability
$n 1%&' ()* of Alaska+evenues came from oil.
From #)), to #)1- oilrevenues averaged %)* of/eneral Fund
revenues.
0he precipitous drop in oil
prices has eposed the deepcracks in state
governmentfoundation.
Alaska and 2il +evenues
3
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Een at !"#$%arrel
4onstitutional 5udget +eserve runs out by 6eptember#)1'.
7ill then have to use the ermanent Fund 8arnings+eserve and the
&ermanent 'und Diidend will cease.
Alaskans will then have to choose between inadin( theprincipal o
the &ermanent 'und or (oin( bankrupt.0he money will be
gone9
5efore we run out of savings the state economy will be hitby
lower credit ratings reduced business investment job
losses reduced lending and a depressed housing market.)on*t be
able to und (asline.
+isin( ,il &rices )on*t -ae s
rice would have to rise to ./0123arrel for Alaska to3reak
e)en.
6tatus >uo $s ?ot 6ustainable
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Alaskas Fiscal roblems Are ?ot@ard to ;nderstand
*he state 3udget can 3esummari4ed in 5our eas+
charts
,
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6pending astly 8ceeds +evenues
(
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Becits 7ill >uickly 4onsume 6avings
&
t t t t
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e c t cee s wo argest tate8penditures
'
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1
?ew +evenues Are @ard to 4ome 5y
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1)
Alaskas Fiscal 6ituation in Four /raphs
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11
7hy Boes it
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G on to ero n n er reeJears
1#
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5udget 4uts Alone Bont
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/;
#)1( . . .Dont Do Much.900 illion Each in Cuts and Session
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/9
8arnings from the ermanent Fund . . .Make a Diference
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H,))< . . .Go a Long Way
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/overnors lan 4loses the /ap
1&
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7hen Bo 6avings +each IeroC
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7e 4an Leep a 6ustainable Bividend!eeing the current
di)idend5ormula is choosing to endthe
di)idend in three +ears
1%
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5urning another H3G- billion of savings limits
options we have today to preserve theermanent FundMdividend and
fund essentialstate services going forward.
?o combination of cutsMtaes alone will ll the
budget hole. 7e are outspending revenuesby more than H3))
million each month.
7aiting to act squanders our best opportunity
to ensure Alaskas future and protect Alaskajobs.
)e must act now.
0he rice of $naction in #)1( is @uge
#)
l k i i h ill
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Alaskas Future is: business labor Alaska ?ative2rganiNations
nonprots members of all political partiesand current and former
public oOcials joined together topromote a solution to the budget
decit that threatensAlaskas future. )e a(ree that we must act
now.
ission: to cultivate the broad based public supportnecessary to
convince the !egislature during the #)1(!egislative 6ession of the
urgency and importance to useermanent Fund earnings to signicantly
reduce the decit
support essential public services while maintaining asustainable
dividend and a healthy ermanent Fund. This isthe frst step toward a
stable economic oundationor Alaska.
Eeryone*s &articipation
Alaskans =oining 0ogether 7ill6ecure Alaskas Future
#1
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##
7hat 4an Jou BoC
1oin us or Alaska*s 'uture
For more information emailDinfoPakfuture.org
4oming soon you can get involved byvisiting our website at
www.akfuture.org
mailto:[email protected]://www.akfuture.org/http://www.akfuture.org/mailto:[email protected]
