For decades the people motivated by the promise of a yearly dividend check have served as guardians of the Alaska Permanent Fund. The fund has flourished under this model and has become a big part of Alaska life. It’s now one of the largest funds on the planet.
But there’s been a shift. Former Gov. Bill Walker initiated the process of transferring the role of guardian of the fund from the people to the politicians.Senate President Cathy Giessel and Speaker of the House Bryce Edgmon are continuing the shift.
Only a fool would believe politicians beholden to special interests would better defend the fund than the people. Politician’s puppet masters such as labor union bosses, the non-profit cabal, big-money lobbyists, and the deeply entrenched deep state government bureaucracy will demand their cut of the loot. If Giessel and Edgmon get their way, a thriving, growing Alaska Permanent Fund is in serious jeopardy. Politicians will spend billions from the fund to grow an already bloated government in an effort to please insatiable special interests all while enhancing and solidifying their own political power.
Gov. Michael J. Dunleavy said it best, “It appears work has been completed by those intent on killing the PFD – representing a major setback for those that believe in following the law and a sustainable government. Unfortunately, with this action, the PFD is no longer a dividend, but a primary source for government spending and growth.”
***Listen to The Dan Fagan Radio Show weekday mornings from 5:30 to 8 a.m. The podcasts are also available on the KENI website or the IHeart Media App.***
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