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Permanent fund ain't broke; don't fix it

Letter to the editor

Posted: Sunday, March 21, 2004

Perhaps common sense is no longer common, or just doesn't apply to our state Legislature. The old saying, "don't fix it if it ain't broke" must not apply to our permanent fund. The governor's proposed POMV plan is a fix to one of the few systems that isn't broke.

I've heard claims the current system is old-fashioned, that universities and endowments use POMV to fund their operation. I've heard government officials claim POMV will create a steady stream of revenue, so Alaskans can count on receiving a dividend.

However, I haven't heard why this new and improved system is really necessary to fix what really isn't broken with the permanent fund and dividend program.

It's what isn't being said that should alarm Alaskans. You can be sure this is a political fix to the citizens advisory vote of 1999, when 83 percent of Alaskans clearly said "No" to the state's proposal to spend a portion of the PFD to satisfy their overspending.

Politicians refusing to accept that answer have now come up with a new plan and hope we don't figure out what they are doing until it's too late.

This issue was never about management of the permanent fund, but whether we have changed our minds about them spending the permanent fund to sustain the unsustainable. I say "No," again.

Fred Sturman

Soldotna



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