Brad Keithley presented on Alaska's fiscal challenges with $80-$90 per barrel oil. He noted that declining oil prices and spending growth have created a widening fiscal gap that will lead to a severe crisis after 2023 without action. At $85 oil, Alaska would face a $3.3 billion deficit representing over $4,500 per resident. With a capital budget cut and 10% operating reductions, further 25% cuts would be needed, including to school funding formulas. Long term solutions like restricting spending growth and using permanent fund earnings could help transition Alaska to sustainable budgets beyond the boom-bust cycle.