What's the Money For

What's the money for? That's the question Governor Jay Hammond asked when he created the Permanent Fund. His answer: the money belongs to Alaskans, and Alaskans should benefit directly. The dividend was just the beginning. Hammond envisioned a fund that would do more—that would help Alaskans build lives and futures here. Forty years later, that vision remains incomplete. Today, young Alaskans can't afford to stay. At 6.5% interest, a $350,000 home costs nearly $800,000 over thirty years—and most of that money leaves the state, flowing to Wall Street investors who've never set foot in Alaska. There's another way. A small allocation from the Permanent Fund—just 10%—could provide 2% mortgages to 23,000 Alaska families. The savings: more than $330,000 per family over the life of a loan. The interest doesn't disappear; it returns to the Fund. Alaska's wealth stays in Alaska, building Alaska families, in Alaska communities. This book lays out exactly how it would work—the mechanics, the math, the politics, and the path to passage. It's a blueprint for completing what Hammond started. What's the money for? It's for Alaskans. It always was.