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« The War On Women In America--Time For A Reality Check | Main | Alabama Trust Fund--Constitutional Amendment Sept 18, 2012 To Allow Breaking A Trust For Sake Of Education, Medicaid etc? »
Wednesday
Sep052012

Why Vote NO on September 18th Vote On ALabama Trust Fund--Because The Truth Is Out!

Here is a link from Alabama Forestry Commission that sums it up rather well. 

http://www.forestryed.com/ftp/AFA--political4Newsroom.pdf

 

Also ask yourself if this was such a gut wrenching --end of the road decision then why was it placed at the start of the legislative session on February 7th?

Also ask yourself if this was to save this year--why are they raiding the Alabama Trust Fund for 3 years?

We have this "sky is falling" tactic as before with Amendment 1--let's not let them get away with it as the next time it will be your pocketbook as the Alabama Trust Fund will be emptied!!!

 

-------

The Answers To Why--please note CA stands for Constitutional Amendment and ATF is Alabama Trust Fund:


SYNOPSIS: The State General Fund (GF) budget for FY 2012‐2013 of $1.67 billion is short $145.8 million. The State must either cut more spending or find funds to cover this deficiency.
The Legislature voted to balance the 2013 GF by taking money from the Alabama Trust Fund (ATF), CONTINGENT on voters passing a Constitutional Amendment (CA) on Sept. 18.
The CA has become controversial for several reasons:


(1) It takes money from the principal but there is no legal obligation to repay it.


(2) It asks voters to approve using ATF funds to balance the GF budget for the next three years, not just for 2013 – by $145.8 million each year.

 

(3) The $437.4 million effectively redirects the repayment of $437.4 million owed by the Education Trust Fund to the ETF Rainy Day fund within the ATF. This ETF debt must be repaid over the next three years.


ANALYSIS: SEPTEMBER 18, 2012 SPECIAL ELECTION to Amend the Alabama Constitution
SHOULD THE STATE USE THE ALABAMA TRUST FUND TO BALANCE THE GENERAL FUND BUDGET FOR THE NEXT THREE YEARS? The proposed Constitutional Amendment would take $437 Million from the Alabama Trust Fund
CONSTITUTIONAL AMENDMENT Q & A:

Why does the State want to raid the principal of the ATF since the ATF has a General Fund Rainy Day Account? This account is depleted due to borrowing to bail out General Fund budgets in past years, and these funds have not been repaid.

Why is a Constitutional Amendment necessary? To change the formula for distributing ATF funds and to amend the Constitution which currently requires repayment when Rainy Day Funds are transferred to the GF.  This Constitutional Amendment allows the State to transfer $437.4 million without repaying the money.

Read complete analysis from Elois Zeanah (Pres of AFRW) here.

 

Here's a short video to share from SGP:

 And another from nationally acclaimed journalist Quin Hillyer:

Vote No on Sept 18th and tell the Legislature you know the truth and it's time to do it right.  Stealing from the future of Alabama's children is not the acceptable way to go.  They must do better.

Read article on "Rich Man And Poor Man"

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