Responsible Alaskans will pay the income tax and take a cut to their PFD.  Cuts will have to be made to government spending too.  All this will have to come over the next 3 years.  Fortunately we have the Reserve accounts to help.  A 3 year program of cuts and raising revenue will be tolerable.  We can be thankful for the $50 billion permanent fund.  But a 3 percent yield from that fund only comes to $1.5 billion.  A $1,000 PFD to every Alaskan will take half of that.