| During recent sessions lawmakers have informally proposed savings goals of $3.5 billion in the “rainy day” fund, and $8 billion in the Permanent Wyoming Mineral Trust Fund by 2018. As of this writing the funds have respective balances of $1.996 billion and $6.846 billion. Mead continues to recommend growing the “rainy day” fund to $3.5 billion, enough to cover a full biennium of spending, as soon as possible.
“Our state finances are more vulnerable to outside forces than perhaps any other state,” Brown said. “When we have that vulnerability in boom and bust, and start and stop, we need substantial savings in order to keep ourselves from being on top of the world one day and totally broke the next. That’s what the debate is about, how much money in savings is appropriate. … I think the Legislature is open to having a discussion. Where it goes I couldn’t predict.”..............................................Full Article: Source |