As you feel every day, these cuts impact those employees who are still on the job. Other agencies are also feeling the crunch. State employees are taking on more and more responsibilities to fill the void left by vacant positions and budget cuts. Let me give you an example. This impacts private industry, which in turn impacts the workers they employ.
Tourism continues to grow and provides forward momentum.
The number of visitors is expected to grow by 3-5 percent. Public construction projects look strong largely fueled by federal dollars, more roads, water and sewer projects, etc. Air cargo has expanded dramatically and will continue to grow Low interest rates and inflation helped support a healthy economy in the 1990s The Permanent Fund is, and continues to be a major positive factor in keeping the state's bond rating high, and in distributing PFDs that are the equivalent of a 13th month of payroll in Alaska's economy. We are at a critical turning point, but let me assure you that Alaska's future has not been cancelled, nor does the future look bleak. We have the opportunity and the tools to ensure that state government will fulfill its responsibilities to serve the people of Alaska.