Bismarck, North Dakota News

" To "have you seen the interest rates" Have you checked out discovercard.com 5.21 percent on a 5 year cd or ingdirect.com 4.25% on a 1 year cd. All FDIC insured. Chances are if you are getting 3% on 30K you are dealing with a local bank. Nice gesture to support the home town bank, but look at the cost to you. "

" Ummm....where can you earn 5%? I just renewed a CD of 30K at a scant 3% at our local bank. "

" How many of you that were in support of Measure 1 realize that we currently have an oil tax trust fund IN PLACE. And it is not constitutional. What the drivers of Measure 1 wanted to pass off was the fact that we never had the money saved before because we were too liberal in the spending and then we lost it all in the boom of the 80's. The trust fund was not in place until the mid 90's. This was blatant misleading.
To lock away 500, 600 million or more dollars is fiscally irresponsible! There are so many needs to our state and we are fortunate to have the $$$ here. North Dakota is a conservative people, and I have faith in that fact.
I was never against the idea of a trust fund for generations to come, but I was strongly opposed to locking away 80% or more of our oil tax income, who does that? I was strongly opposed to limiting the trust fund to ONLY oil, since we are a state of varied energy resources, and I was strongly opposed to a hard dollar figure rather than a percentage. Our parents and grandparents did not teach us to only save when we could afford it, but to save always...a set percentage would allow for that. "

" While I absolutly do understand that roads and infrastructure needs to be fixed in the western part of the state because the oilfield is hard on all of it, I also think it would have been prudent to put something away for later. Also, the interest gained on that money would have been put in to the general fund in future years to go along with the 100 million that would go to the general fund. I'm afraid now what will happen with that money, rather than fix infrastructure, is that it will be spent on programs that will need continual funding. what happens when the oil dries up, and it will it's done it every other time in the past? then how do we fund the fancy new programs? Raise taxes or cut government? "

" Good job, ND. There are still some visionaries left in the country. "

" To the pro and con of #1 and #2: There is 8 weeks time till the Legislature begins to meet; now is the time to compose your thoughts on the important things our State must do, and not do as the case may be. It will not be constructive nor will it help our causes to just gripe and complain about the failure of the measures. Give them your clear thoughts on what you think should be done and then give them reasons why---you have to defend your thinking---some of the reasons are not readily apparent to the legislators---help them out.
The State of ND is in a unique position; we have money in the kitty--we are close to our government, we are small enough in size so we can direct government and development to take advantage of this huge energy and food market.
There is no doubt that the Education sector is going to ask for a big piece of the pie; they are worthy of some of it, but they have not done enough in controlling their growth, nor have they shown innovation in their approach to education. The legislators are going to need support as they keep the brakes on Higher Ed spending. Think on it. "

" I always thought that us North Dakotan's thought long term. I for one hope that the oil lasts for the next 30 years or more and they get ever last drop. However when it would have been nice to have a trust fund for when it runs out. "

" Halatbis, as one who supported measure 1 but opposed measure 2, let me say you have made the one argument that makes sense in support of measure 1. You have gained my respect for your clear, well thought out statement in support of measure 1. I still find myself on the other side of the fence however. Simply put, I cannot believe our legislature will not raid that fund to promote boondoggle spending projects. The measure would have taken the first $100,000,000 and placed it into the general fund. That is 100 million more than the general fund had before the oil boom. A lot can be done with 100 million dollars. The balance of the money would have been place into a trust which could not be touched without a lot of trouble. That money draws interest. Think of it 1 billion dollars making 5% interest. $1,000,000,000 at 5% is 50 Million dollars. Now, if we continue to collect the extraction taxes for even 1 more biennium we could have 2 billion and that would mean our state would have a continued source of 100 million dollars revenue every session. Now thats economic development or roads or wages or education. My fear is that this money will be squandered on one time monuments to legislative reelections and greed. No, I dont trust the legislature, they havent earned it through their past performance and until I see differently I must base my opinion on the past. I have lived in a state that does have a trust fund with a lock and I have seen the benefits of that fund. No income taxes and very modest property taxes, well maintained roads and public buildings mostly from the mineral extraction taxes and the trust fund. Thats why I am disappointed in the loss of this measure. "

" Post script to my previous post. There are many who are concerned about the spending of money in the treasury. Please, do get in good communication with your legislators--find out what they are doing--be prepared to give them well thought out suggestions--give them support in the bills and measures--help them with the vision of what our future should be. You will be surprised at how open they are to ideas and suggestions. They do not legislate in a vacuum. By all means, get involved.
The State Legislature has an E-mail system---get familiar with it--you don't have to write and post formal letters--communications is fast and easy.
Your local and county rep's are no different. They are responsive. They don't hear much feedback ---that is our fault. Government in North Dakota is very close to the people. The direction of it is up to us. "

" Well said, Halatbis. I agree with you 100%! "

" The demographics and economy of North Dakota is changing dramatically, and the State must respond to those changes and try to keep pace with the growth. The energy crisis of the past couple of years, the shortages of liquid fuel, the price spikes, and the frenzy to find new energy is driving our state faster than we can keep up. The roads, pipelines, water supply, housing supply, services ,etc in North Dakota are inadequate--in some cases wrecked from the heavy use--these must be fixed.
The oil patch is the source of the surplus in the state treasury. It is the goose that gives---we must take care of it. This is not the time to cut state government or cut spending or put money away for the future ---this is the future--the time to build and establish business and industry for the coming generations. We will do them a great dis-favor by leaving money in a fund to be some kind of inheritance. What we should endeavor to do is to leave them a state economy and industry that will provide the jobs and income that will sustain them and their children.
This is the time to "invest and to build". Invest does not mean spending on non-essential things--it doesn't mean spending on goofy things--it means we must build industry that supports our strengths--coal and energy, oil, wind, and the processing of our agricultural products. This will take money--something we have right now--it will take vision, something I think we need to really work on. This is not the time to be timid. We have got to think about where we are going. Our children and grand-children will look back with appreciation of a time when the leaders of our state had the bold vision to build a solid and lasting economy for North Dakota. "

" sorry, i meant measure 2 "

" weiler may understand the ballot but if it would not lower our property taxes than obviously we vote it down. The property taxes are ridiculous in Burleigh county already so we do not need hikes but we need drastic lowering and we need to hold the Govenor to his word "

" Mr. Weiler keeps getting re-elected because his views reflect the majority of the voters in his district. I proudly support him and supported Measure #1. It is my fervent hope that Rep. Weiler continues to pursue fiscal good sense when the session begins in January. Good Job DAVE! You may be one of only a few fiscal conservatives in the House, but there are many of us in your district. Thank you! "

" It was not still to close to call. All precincts reported at about 9 or 9:30 am and the Forum had already posted that Hamm won. "

" It is funny how people are saying the administration will be spending all the money. If I remember right our administration did not change and we do have a surplus in ND don't we. The oil money tax has been here for awhile. It is not like it is something that was just handed over. Look up where the money is being spent in the past. Maybe we should take away the money the education system gets from the oil money, so are kids lose out. "

" It is still to close to call. Back off the Tribune! "

" Isn't the insurance commissioner race decided? Why is the Tribune not updateing on that? "

" to watching:
I tried. Thanks to everyone for the support and votes. "

" Tommy you think the rest of us need to be educated? Nice comment you will vote know out of fear....not the right no. Sorry there, maybe you need to be more educated "

" Sane heads prevailed! "

" I am proud of ND for seeing through this "trust fund" and voting down Measure 1 and 2. WELL DONE!!! "

" abc, grumpy old republican, law. I too am stunned at how people voted on #1 and #2. What I don't understand, it seems people think this oil tax came from there paycheck. What? I have been in the oil business for some time. I have seen a bust in the past. It saddens me we as a state haven't learned anything from the past. This money will be spent so fast it will make your head spin, and all will have to show for it is a higher administration costs, frivilous social programs, and politicians padding themselves on the back. Sorry ND but I am extremely disappointed "

" Guilty as charged.. Feel like an idiot for not further educating my wife and friends on this subject. If you walk into a booth and are asked to vote on something that you are uneducated on... you will vote know out of fear. "

" I am scared the leg will take the vote as an opening to spend, spend, spend. Already Al Carlson has said he wants to increase state spending by 20%. Now we have to fund measure 3, and oil has dropped to $ 60 a barrel. I hope the bust doesn't come too soon. "

" I can't wait to see how the legislators will spend come up with "innovated ways" to spend our children's future. They will be like drunken sailors on new shore leave. To bad, we had money for our future and in 4 years we will be in debt up to our backsides just like the federal government "

" Thank goodness people with level heads voted strongly. "

" How can ND say NO to measure 1 and then reelect the legislature who tried to get it passed last session and then tried to get it passed as a measure on the ballot maybe Dave Weiler needs to hear NO and be sent packing next election. Why does no one ever run against someone on their record if Weiler would have been connected to this measure maybe we could have been rid of this guy as well, lets all watch the session this year and throw the ones out who refuse to listen and keep pushing their own I know better than you agenda "

" I'm stunned at the results as well, abc. I thought more North Dakotans would be duped and vote yes. Apparently we're a smarter bunch than I thought. "

" It looks like people STILL don't understand the implications of Measures 1 and 2. You can't automatically assume you will retain more of your paycheck if you aren't giving it to the government. Measures 1 and 2 would have just shifted your paycheck from state government to local governments. And I for one trust the state government MUCH more than the locals. Local governments in ND have a long history of being the secretive old boys club, at least at the state level things are generally much more open, and more people are required to vote on spending issues. "

" Thank you North Dakotans for say no to the these bills! You made the right choice! "

" I am absolutely stunned at the result. Apparently the fine people of North Dakota believe that they are most comfortable when the government holds their money, instead of themselves.

Oh well, let the spending begin. "

" big money wins!
I will be watching to see what the gov. and legis. do to give the money back to the people "