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January 26, 2012

Alaska could be facing budget deficit by 2015

  • An analyst says the state faces tough decisions as oil production continues to decline.
    • By BECKY BOHRER
    Associated Press

    JUNEAU, Alaska — Alaska is similar to a person approaching retirement age, Legislative Finance Division Director David Teal said Tuesday, noting that as income falls, there's a greater reliance on savings.

    Teal told the Senate Finance Committee the state faces tough budget decisions as oil production — the lifeblood of the state's economy — continues to decline.


     
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