Alaska's economy is good. The State's bond rating is up.
Unemployment is low.
Both the state and national economies are strong and most people have jobs. Despite responsible budget cuts and adherence to the Republican Majority's Five-Year Budget Plan, depressed worldwide oil prices and production declines have created a huge fiscal gap. Alaskans must recognize the severity of the problem and work together to find workable and politically possible solutions. Torgerson noted that the Senate Republican Majority proposes continued spending reductions as we work with the state's other leaders and the public to develop a long-term solution. We suggest he direct his agencies to make further real reductions in Fiscal Year 1999 spending and present legislation on the first day of session that proposes those specific reductions.