Beware of Dunleavy plan treating short-term stock market gains as permanent

The Dunleavy administration wants to take a similar approach to the Permanent Fund because the high returns of the last fiscal year created volatility on the upside. That is the basis of their claims that the state can afford to withdraw extra billions from the Permanent Fund, never admitting that some of those gains are the product of a volatile market and could disappear in a flash.

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