Alaska has relied on one major source of revenue, oil, for too long.  Putting all your eggs in one basket to run state government is a dangerous, high-risk boom & bust proposition.  Alaskans have been spoiled by Big Oil and must now face the reality of a $4 billion deficit.  
There is not one simple answer to solve the deficit crises.   Walker has proposed several measures across the board to fix the mess and the Legislature has failed miserably to find reasonable fiscal solutions.

All Alaskans need to tighten belts, accept reasonable tax revenue proposals, and yes, accept the fact that the heyday for fat PFDs is a thing of the past.  We need to better diversify our economy and tax revenue sources through renewable industries such as fisheries and tourism.   As a people and state, we can't be oil junkies forever.