The state’s fiscal crisis is no tiny problem. Oil prices are volatile, reserves are depleting and the state is facing a financial deficit. At this year’s Innovation Summit, held in Juneau in early February, Governor Walker addressed more than two hundred of the state’s top entrepreneurs, politicians, investors and leaders. He discussed his budget plan and the need to diversify and shift the state away from a mono-focus on a non-renewable oil industry.
Tough budget cuts, Walker explained are inevitable. “Of course, you can’t make everybody happy,” Walker said. “But nobody is happy with this year’s budget proposal, not even my wife.” That being said, Walker stressed the importance of having a plan, no matter the difficulty and heartbreak involved with drafting that plan. That fiscal plan, he said, was written in pencil, not pen. Rebuilding a stronger Alaskan economy will require a collaborative effort that cuts across sectors. The governor looked across the audience, asking for input and calling upon the creativity and resourcefulness that comes naturally to Alaskans.
.....For example, Matt Hirschfeld, the Medical Director of Alaska Native Medical Center, outlined the serious long-term economic impact that adverse childhood experiences, such as drug abuse and domestic abuse, have on the state. Victims of early age abuse cost the state billions of dollars in programming and medical costs. What if we invested more in preventative programming? We could not only boost the health, wellbeing and happiness of our population, but we could save more money in the process. Shuman pointed to the example of state medical expenditures and costs. Perhaps Alaska can’t localize the creation of pharmaceuticals or costly medical devices, but what if we invested in more preventative infrastructure? Again, we can build a healthier population while preventing more money from leaking out of our state’s economy.
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