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Here's an idea for protecting state's permanent fund, balancing budget

Posted: Wednesday, February 04, 2004

We would like to suggest a possible option to settle the permanent fund debate: Transfer $1 billion worth of the stock investments of the permanent fund to the general fund with the requirement that no further request for draws be made from the fund for the period of five years.

The distribution of the fund would remain as it is now determined and it would still allow the deductions from our portion of the dividends that has for years been applied to medical and public assistance provisions, legislative appropriation of convicted and incarcerated felon and misdemeanant dividends, administrative costs and prior year dividend obligations.

These have in the past allowed the fund to grow and still provide an agreeable dividend for residents. This has proven to keep the interest of the voters in the running of the government, which had reached a very low point before the instigation of this fund.

The five-year period would allow the Legislature and administration to show their intent and expertise in balancing the government and the general fund as they wish, while restructuring the system to prevent further overspending.

Georgia L. Griffin, Soldotna

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