(JUNEAU) - I believe we have come
upon a time of immense importance to the future of our great state. Abraham
Lincoln said: "You cannot escape the responsibility of tomorrow by evading
it today."
At no other time can the
words of this great leader be more pertinent. There
is a great deal of strife surrounding the permanent fund dividend.
Therefore I propose HJR 31 with the one time pay out of $20,000 to end
the past rhetoric and to begin the debate for the future of our state.
There are those who want
to enshrine the dividend program regardless of the State's financial
health. The dividend has become entrenched in our thinking, and we are
unwilling to wean ourselves from it.
However, we are spending 300-400 million
dollars more than we take in each year. We have programs within the state
that cost more due to formulas and contracts that have been previously
agreed to. Additionally, Medicaid has become an enormous yearly expense.
Our PERS and TERS retirement funds are short funded and will need a serious
influx of dollars.
Many Alaskans tell me that they are unwilling
to suffer the massive cuts required to fill the gap, nor can the money
come from the Constitutional Budget Reserve for much longer. Alaska can
either use various forms of taxation, the earnings of the Permanent Fund,
or the principal of the Permanent Fund. I believe our best choice is to
use some of the earnings, not the principal, of the Fund to help run government,but
not without giving Alaskans their equal share of the resources that were
endowed to them.
After one final dividend
of $20,000 we will end the
dividend program and move on from this issue.
The people of Alaska will be given their own stake in Alaska's future.
No longer will they rely on a yearly check from investments in the New
York Stock Exchange, but will enjoy the fruits of investing for their
own capital needs.
There are many things that
a person can do with $20,000 (investment opportunities, debt reduction,
material goods, etc.) that will serve to benefit the great citizens of
this state. What would
you do with this large pay out? I cannot
presume to know how people spend their money. Nevertheless, this is
twenty years of dividends rolled into one. This
is without the worry of inflation devaluing your yearly check, or the threat
of future legislatures constantly dipping into your fund.
Finally, we Alaskans will be in control of our own future.
The benefits to the State of Alaska are
monumental. We will be able to improve the quality of life throughout the
state by adequately funding education, safety, public health, and our infrastructure.
With this plan I am attempting to enable
government to moderately sustain itself. In conjunction with the enactment
of this plan I would suggest a well-crafted constitutional spending cap
in order to have a stable, long-term fiscal policy for the first time in
our State's history.
I
am not trying to take your dividend away. I
see this as giving the people of Alaska an opportunity by taking these
resources from the New York Stock Exchange and reinvesting our capital
back into Alaska.
We need to invest in our own future for this state to thrive.
HJR 31 is a choice. The people
of Alaska will make the ultimate decision at the ballot box. Please
ponder this plan and feel free to comment. Let's build a brighter future
for Alaska through dialogue. Good state policy comes from public discourse
and civil debate in an exchange of ideas. Help me continue this debate
as this resolution moves through the Legislature. So talk to your own legislators.
I encourage every citizen of Alaska to become involved in the process.
This discussion is vital to Alaska. I am but one citizen equal to you in
this progression so I want to hear your voice as well.
Public testimony on |
