ANCHORAGE: After Gov. Parnell oversaw a transition from record surpluses to record deficits, the state Senate voted unanimously today to deny the Governorâ€™s pay raise.
“In the real world, you get paid for your performance. Governor Parnell has taken us from multi-billion dollar budget surpluses to a $2 billion annual deficit, and now Republicans are threatening to raid the Permanent Fund to pay for it,” said Senator Bill Wielechowski.
Parnell’s massive deficits have led the Legislative Finance Division to warn of cuts in the PFD or an income tax. House Republican leadership have said they are considering raiding the Permanent Fund to pay for Parnell’s deficits.
State deficits blew up after passage of Gov. Parnell’s signature legislation, S.B. 21, better known as the Oil Giveaway. Though Parnell sold it as a tool to boost production, even his own administration projects declining oil production for at least the next decade.
With declining oil production and lower revenue following the Oil Giveaway, the Governor has no plan to recover from massive deficits. Communities across Alaska are reeling from Parnell’s fiscal disaster, with hundreds of teachers being laid off following the Oil Giveaway.