| Wyoming should spend a portion of its reserve funds. The state has two separate accounts that are intended to protect the state against economic decline should there be a decrease in revenue from our extractive industries—the Wyoming Permanent Mineral Trust Fund and the Legislative Stabilization Reserve Account (The so-called “Rainy Day Fund”). It is not efficient. Saving the money without also laying the groundwork for a diverse economy, which is necessary to protect the state from an economic bust, is not a long-term solution.
We should use some reserve funds to boost economic diversification (we are among the worst diversified economies in the nation) and attract and retain educated, entrepreneurial individuals to the state. Reserve funds could be used to enhance and promote efforts to support new businesses via organizations such as the Wyoming Business Council...............................................Full Article: Source
|