Sounds like they are endorsing the most recent restructuring of the Permanent Fund proposed by the House and Senate.  Without restructuring and turning our savings into revenue producing assets the dividend is doomed.   Goldsmith and Havelock's logic seems to be kind of twisted here though saying it will be big projects that will drain the fund.  No, it will be school funding and medicaid which consume more than 50% of the budget.  Would the authors support that just to keep a maximum dividend?  At some point this is a zero sum game.