February 16, 2011 6:44 AM

Alaska is spending too much oil money, economist says

A leading state economist says Alaska is saving too little of its oil wealth for future generations. The good news is that Alaska is rich enough that it can afford to spend $5 billion of its oil wealth every year, even after the oil fields die away. The bad news: The state is likely to spend more than $5.5 billion in the coming budget year.

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