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SANTA FE — They just don’t get it. New Mexico is in a Great Recession that won’t be solved by quick fixes or nickel-and-dime fixes. And yet Santa Fe seems to be in denial.
Even if a budget bill had passed, we are still at the beginning of a long road. We’ll have many more special sessions and regular sessions before we’re out of this hole.
Sooner or later our governor and lawmakers will have to face the fact that minor surgery is not going to cure our budget problems.
It didn’t help that our revenue for next year was projected at a 6-percent increase over this year. The economy is so bad now, the rationale goes, it can’t get any worse.
Well, it can. A forecast made last week showed that we haven’t hit bottom yet. We’ll need another $50 million just to make the current year’s books balance.
You know what that’s going to do to next year’s budget. That $600 million hole they’ve been talking about has gotten even deeper. The answer to this major problem is some major solutions.
Instead, our governor and lawmakers are arguing over whether to tax tortillas and eliminate double-dippers. That will produce about two handfuls of dirt to fill that gaping hole.
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