Nov. 12, 2015: '$3 Billion Short: Alaska's Budget Challenge'

Thursday, Nov. 12, 6:30-8 p.m. Chugiak High School, Steve Primus Auditorium (16525 S. Birchwood Loop Rd.)

Alaska is facing a serious budget problem: the state is spending billions more than it is collecting, and is rapidly using up its savings. Revenues from oil production have covered about 90 percent of the state budget for the last decade. But those oil revenues have plummeted. Oil prices today are less than half what they were in 2012. This year, the state expects to spend about $5.2 billion but collect only about $2.2 billion in oil and other revenues. It is spending nearly $3 billion from state savings accounts-which won't last long at that rate. We face very difficult choices between cutting state spending and raising new revenue.

How would you balance the state budget? Join us to hear Gunnar Knapp, director of the UAA Institute of Social and Economic Research, discuss the problem and the options for solving it.

Plus, face the legislature's challenge by playing the Balancing-Alaska's-Budget game. Spin the oil-price roulette wheel to find out how much oil revenue you have. Then decide how much to spend and how to pay for it-including whether to spend down savings, add taxes or use Permanent Fund earnings. Then see if you can get re-elected!

Presented by UAA Chugiak-Eagle River Campus and Chugiak High School.

November Archive