• Registered: 03-28-2009
  • Posts: 1

Topic: Statement from Governor Folsom

I wanted to draw your attention to a particular statement Governor Folsom made Thursday when he met with members of the media.  For whatever reason, some media accounts continue to imply that the PACT program is in immediate danger of running out of money.  This is simply not true and Governor Folsom feels very strongly that such statements have caused undue worry for thousands of Alabama families. 

Governor Folsom’s Quote:

“I can't say strongly enough that there is plenty of money in the program to take care of children going to college next year, and probably for several years. If you drew down on what's in the fund right now, you have several years of drawdown left. We're not in any immediate danger of a problem with children not receiving their PACT funds." [as reported in today’s Huntsville Times]

  • From: Lanett, Alabama
  • Registered: 03-27-2009
  • Posts: 124

Re: Statement from Governor Folsom

Wonderful words to hear, Chip! 

The fact that the Board of Directors of Alabama PACT have the power to and even considered desolving the PACT trust and returning initial investments is my worst nightmare...resolutions are made to be unresolved.

My hope is that the legislature of Alabama will act immediately to assure, insure, guarantee and warrant at least the existing PACT contracts with the full faith and credit of the state and work hand in hand with the Board to be able to continue issuing new contracts in the near future.

Einstein once said, 'The definition of insanity is doing the same thing over and over again and expecting different results.'

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