Mother Hubbard's Cupboard
For the past few years Alaska has been suffering with a budget crisis. There hasn't been a state tax since I believe the first year I came here, back in 1976 or somewhere around then. When oil was discovered on the North Slope and Prudhoe Bay, the state was swimming in money from oil revenues. There was so much money that the governor at the time, Jay Hammond decided it would be a grand idea to share the state's wealth with it's citizens. Hence the Alaska Permanent Fund was born. It was a tremendous blessing to receive, and was doable because to this date I believe there are less than a million people who live here. So many folks find themselves out of work in the winter months because of the harsh conditions, so having an extra source of income in the fall really makes a difference. Some years back the price of oil started dropping, from over $100.00 a barrel to around $60.00 or so. The state for years has lived off that oil revenue,and when the prices st...