Source here.
- most recent deposit, June 21, 2017: $37 million
- total deposits since inception: $3.9 billion
- net assets in the fund, as of January, 2017: $4.3 billion
- height of the boom: $90 million / month being deposited
- currently: about $30 million / month being deposited
Meanwhile, on June 5, 2017,
The Grand Forks Herald reported that for the first time ever, ND legislators will tap the earnings from the fund.
- purpose: to help balance the budget; 2017 - 2019 budget
- amount: $200 million
Options for strategic management of the fund:
- one option -- spend all the earnings; deposits would still total $20 billion by 2060 -- no one advocates this option
- second option -- at the other extreme: reinvest all earnings; doing so, the fund would balloon to $102 billion by 2060
- middle of the road options
- reinvest 75% of the fund's earnings; spending 25%; balance of $65 billion by 2060
- other option: "reinvest, replace, and spend": $50 billion by 2060
Typical political talk: "no one advocates the option of spending all the earnings." LOL. Total earnings to date in the Legacy Fund: $400 million. In its first move on these earnings, the legislature will spend 50% of these total earnings on one item: balancing the budget. It appears no one advocates spending all the Legacy Fund earnings but it's already happening.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.