I actually live in Alaska. I'm quite concerned about how the NY Times portrayed this.
While I don't agree with all of the cuts to the University or the budget as a whole, the way this is being portrayed is interesting.
If veto holds, and the cuts to the University take effect, Alaska will still spend 3 times as much per student than the average state. Yes, you heard that correct, Alaska will still contribute 3 times as much in state funding, per student, to their college students than the average state in the lower 48. Going to college for in state residents is one of the lowest tuition rates in the nation for a state school.
Secondly, it didn't get mentioned that Alaska has one University system. There are an amazing amount of redundancies in the system that could eliminated for greater efficiencies and savings.
Lastly, it rarely gets mentioned that the UA system has a huge amount of administrative overhead costs. I attended the UA system and there always seems to be quadruple the administrative staff to actually teaching/research going on.
The last thing I would say is that the State legislatures did a very poor job of overspending while oil prices were good and then when the price of oil dropped, boom!, we had a deficit.
Better fiscal restraint and spending prior to the price of oil dropping would have saved a lot of his heartache.
Not to mention that Alaska is dependent on oil for its current existence and once fossil fuel use is eliminated, this state will lose 75% of its residents.
Just my two cents.