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<blockquote data-quote="deleted member" data-source="post: 335488" data-attributes="member: 816"><p>i guess i disagree.&nbsp; but, that's fine.&nbsp; when the oil is all gone, this state will still have the mess to deal with and the infrastructure to take care of that was put in place with tax dollars as a result of this boom.&nbsp; imagine this scenario if ya will:&nbsp; state operates on a budget much like you suggest.&nbsp; spends only what it takes in and takes in only what it spends.&nbsp; for X years that number is roughly 10 billion (for example) 50% of which (for example) is fueled by the economic activity in the oil fields.&nbsp; when the oil dries up (i know it won't happen overnight), do you think the state is going to be able to cut its budget from 10 billion to 5 billion to account for the loss without significant consequence?&nbsp; without $ in the bank (legacy fund) or some other unforeseeable income in the future, we would go from running well in the black to significantly in the red in a matter of a decade.&nbsp; almost seems like planning for retirement i guess.&nbsp; just seems wise.</p></blockquote><p></p>

[QUOTE="deleted member, post: 335488, member: 816"] i guess i disagree. but, that's fine. when the oil is all gone, this state will still have the mess to deal with and the infrastructure to take care of that was put in place with tax dollars as a result of this boom. imagine this scenario if ya will: state operates on a budget much like you suggest. spends only what it takes in and takes in only what it spends. for X years that number is roughly 10 billion (for example) 50% of which (for example) is fueled by the economic activity in the oil fields. when the oil dries up (i know it won't happen overnight), do you think the state is going to be able to cut its budget from 10 billion to 5 billion to account for the loss without significant consequence? without $ in the bank (legacy fund) or some other unforeseeable income in the future, we would go from running well in the black to significantly in the red in a matter of a decade. almost seems like planning for retirement i guess. just seems wise. [/QUOTE]

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