text: This is not news. It was obvious several years ago that our State economy would be sharply reduced with billions removed from Dividends and State spending. This contraction will affect every aspect of our economy and we are far from seeing the final shakeout to come. Add to that a broad-based tax to suck even more money out of the economy. Folks we are headed back to 1978. Its not all bad - more room at the fishing hole, less traffic on the roads, etc. It is said there is more opportunity in a recession than a boom - I guess we will find out if that is true. If not for the $55 billion Permanent Fund enabling us to sustainably plug the budget hole up to $2.7 billion/year we would be in a real world of hurt.