The single most important paper in this years upcoming budget battle. And the single most important statement in the paper: [T]he state deficit is a structural problem—petroleum revenues can’t continue to grow at the same rate as population and inflation. The deficit is not a cash flow problem that will cure itself if the state uses a wait and see fiscal strategy. ... [P]ostponing the move to sustainability will [adversely affect] new investment in economic development .... The risk of higher taxes and economic decline will shut off the flow of investment dollars into the state. Yup; crunch time. (The paper is at the link.) ow.ly/Hom4L
Posted on: Thu, 15 Jan 2015 20:15:51 +0000
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