Quote Originally Posted by kidfromgarcia View Post
what many legislatures have done in the past is to ride-out low oil prices in the hope they reverse themselves so they do not have to add new revenue sources by tax. The world is changing and a large reason the U.S. produces more oil and exports rather than imports is that it is not used like it once was, per capita per world population oil consumption is in decline. Although it will be many decades before oil rigs are stranded asserts the state leadership still needs to make a plan. spending equals revenue is not going to work because the state remains stuck without revenue and we are too small a population to run all services off existing taxes plus oil revenues that are likely not recoverable in the future.
Folks realized this during the 60's-70's and the consensus was that low level broad-based taxes combined with a Permanent Fund would provide the best income structure after oil revenue declined. At that time, both were implemented and intended to be used to fund state government - as is reflected in our constitution. Bummer that the current administration has been spreading misinformation over this issue for years now, and that our constitution is under attack from nearly every angle.