Alaskan's Journal

Bruce

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The problem is that Alaska had SO MUCH money for SO MANY years with the oil industry up here .. And being stupid idiot government they spent everything they got plus extra
Clever. The Vermont Constitution requires a balanced budget every year. Yeah we have our own problems, like the underfunded state employees' retirement fund but they can't spend more than they take in.
 

Alaskan

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No "rainy day" fund?
tsk tsk....

What is the Rainy Day Fund?
Since 1989, the State Constitution has required that a portion of oil and gas production taxes go into the Economic Stabilization Fund (ESF). Many states have a cash reserve, but Texas has the largest in the country. With a supermajority vote, the legislature can use the Fund as general revenue in the current or next budget cycle. The Texas Constitution also authorizes the Comptroller to make temporary transfers out of the Fund to make up for a General Revenue deficit.

How does money get into the Fund?
The Fund receives a transfer of at least one-half of 75 percent of the prior year’s oil and gas severance tax collections that exceed what each of those taxes generated in 1987. Starting with fiscal year 2015, the remainder of that 75 percent goes to the State Highway Fund. Before 2015 the Fund received all of the transfer.

The Fund balance is projected to reach $10.5 billion by the end of Fiscal 2018—a record high. Natural gas tax deposits were a major source of revenue for the Fund from 2002 to 2009; oil severance taxes were more important from 2013 to 2016. By the end of fiscal 2019, $11.2 billion will be available in the Fund.
That there is wonderful

Sadly... way dumber and less conservative people have been running Alaska
 

Baymule

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Texas has a state approved gold depository. No taxpayer money has been spent, a company, Lone Star Tangible Assets, was chosen. The company started using it's existing vaults.

Texas Bullion Depository is operated with oversight by the state of Texas, they are building a new one in Leander.

I guess I need to go buy a bunch of gold so I can squirrel it away in the state depository. LOL LOL

https://www.texasbulliondepository....MIyZ31vfDu4AIVBBx9Ch0OWAKyEAAYAiAAEgKHb_D_BwE

https://www.dallasnews.com/business/economy/2017/06/15/texas-just-first-state-start-gold-depository
 

greybeard

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But, as the article points out, the State of Texas has virtually no gold bullion and doesn't intend to purchase any any time soon either. If they did, I'd raise Cain about it, with the price today @ 1287.35/oz.....they should have bought it years ago when it was way under $1k/oz.

State has plenty of black gold tho....if ya don't think so, drive out to Odessa/Permian/Wolfcamp or down South to the Eagle Ford. (The Barnett in N. Tx is about played out and is expensive and difficult to drill and produce from)
USGS estimates the Wolfcamp contains 20 billion barrels of crude, 16 trillion cubic feet of natural gas, and 1.6 billion barrels of LNG.
Then there's this, but the price is so low not much is being actively produced..
Uran.jpg



not bad for a bunch of trigger happy cowboys...

Did you know.................., that South Padre Island was on the short list of 3 places the US was considering to test it's 1st atomic bomb?
1. A desert bombing range near Blythe, Riverside County Calif. (It topped the list fo a long time but not chosen simply because the Army General in charge of the atomic project (Leslie Groves) didn't want to have to deal with that base's commanding officer George Patton) (there was no USAF until after ww2. Up till then, all air assets except Marine and Naval air fell under US Army Air Corp and were commanded by US Army officers)
2. Alamagordo N.M. It "won".
3. Padre Island, seriously considered since it was nearly 120 miles long, had good rail service and a deep water port at Corpus Christi, was already being used as a bombing range and was already off limits to civilians since right after the start of the war.
 

Alaskan

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Blast all..


Slid about, fishtailing, driving down the hill today where the road is stupid narrow... decided to hit the one bit of shoulder (the rest is deep ditch or guard rails) to get myself straightened back out...... it was a BUMP! I was so worried that I had smashed the frame or axel.

Looks ok ..

:th
 
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