I like Ray Metcalfe’s formula to secure Alaska’s financial future. I call it the Alaska Plan. It’s simple, it’s do-able, and when this formula is adopted, Alaska will never suffer another financial crash. You can read Ray Metcalfe’s formula at www.adn.com/article/20150128/formula-securing-alaskas-financial-future.
Here’s the bottom line: We can adopt the Alaska Plan by holding a special election in April amending the Alaska Constitution to (1) consolidate all funds into a $65 billion Permanent Fund; (2) guarantee dividends; (3) authorize an 8 percent annual withdrawal to operate state government and pay dividends; and (4) require 100 percent of all fund earnings and 100 percent of all future owner-state natural resource revenues to be deposited into the fund.
By consolidating all investment earnings and natural resource sale proceeds in the fund, Alaska can afford to withdraw 8 percent of the permanent fund per year to operate Alaska. As Metcalfe says, Alaska is at a crossroads: do it or lose it. Let’s do it. Support this constitutional amendment.