<<Alright good, but the reason it passed aside from all the political opposition is that the Alaskans themselves thought it was a good idea--and it still is>>
The Alaskan's themselves had little to do with it. Not how politics works. A very few people set it up and passed it and then sold it to the Alaskan's. And they did remarkably smart things all along the way. E.g. they put the permanent fund dividend (roughly $1,500 a year for every person now) in to garner a base of support for the fund. And today it has so much support no one could ever destroy it.
2) They did not allow in state investment (so the crooks could not get their hands on the money). Liberals don't like crooks and Republicans are in bed with them.
3) They put it in teh constitution and it would take a 3/4 vote of both houses to touch the principle-that would never happen
4) They inflation proof it every year before they spend a dime.
5) The money is diversified around the world.
And most importantly they studied Alberta's soverign wealth fund to see how to do it right. Alberta ended up losing most of their savings because they were talked into investing in state and the crooks got at it.
Personally I don't think Republcian's with their anti intellectual attitude could ever have figured it out and I don't remember any Republicans helping with the establishment of the permanent fund.
Just like Republicans are responsible for most of the debt and bad decisions our country has made over the years.
Remember Republician's are Palin, Bachman, Delay, Nixon, Bush, Cain, Perry, Trump, Boner, Mcconnell, Barbour, Mccain, andon and on and not a sound thinker in the group. |
