Alaska’s budget gap is even bigger, by about $300 million. Governor Walker announced this week oil prices have been in the $40 range, not $50 a barrel forecasted last fall. That amounts to about a 30 percent drop in revenue.

The announcement comes at a time when Alaska is already faced with an unprecedented budget deficit. Two former Anchorage mayors have been in the driver’s seat during past economic downturns.

In this web extra discussion, Rick Mystrom and Tony Knowles talk about Alaska’s fiscal challenges and potential solutions.

The full program, Fiscal Cliff, airs Sunday March 27 at 4:30 and 10:30 p.m.