"We were taking in more in PF earnings than in oil revenue even in those days, yet we wouldn’t spend it."

Art, you're not the expert you think you are. Let me help you out here.

During Hickel's second term annual oil production averaged 1,743 million barrels per year. So even if oil prices were low, we were making it  up in volume. There was no need to tap the Permanent Fund.  Today it is down to 579 million. So not only are prices down, but production is too. That's why we are in such dire straits.

As far reducing the size of state government, the GOP controlled legislature has had three years to do it. They have totally failed, and have not put forth any kind of plan to get to a sustainable budget. All they do is drain our savings accounts, while yammering for cuts they won't make.