When, after being in session for 160 days, the House and Senate leadership started talking about passing just a budget and going home, I was reminded of a meeting I had last summer with a professor from the University of Potsdam.He was traveling around the world, talking with people associated with the world’s largest sovereign wealth funds many of which were associated with mineral rich regimes. His research was focused on how the funds were being used to replace falling revenues from commodities as price and production fluctuate over time.As I discussed the difficulty the governor was having in moving the Alaska Legislature to make significant changes before we fall off the fiscal cliff, he interrupted me. He said Alaska is facing the same problem seen facing decision makers throughout the world.
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