- Special Sections
- Public Notices
SANTA FE — We’re not out of the woods yet. Have you noticed that our state budget deficit grows about $100 million a month beyond projections?
Last March, the 2009 Legislature plugged a $500 million hole. The budget reduction was projected to get us through until July 2010. But by August 2009 we were already over $400 million further in the hole.
In September, that deficit rose to $550 million and in October, it was $660 million. At this rate, by January, when the 2010 Legislature convenes, we’ll be another $300 million deeper in the hole.
When will the slide end? New Mexico’s economy runs behind the curve so the national picture will have to start looking better first. The way it’s going, we’ll have to start rooting for $4 a gallon gasoline to return. Since our state’s revenues depend so much on the oil and gas industry, that should take us back to financial health.
Meanwhile Gov. Bill Richardson is pushing back at those who make him the culprit for New Mexico’s desperate economic situation. Even Democrats, most notably Sen. Jerry Ortiz y Pino, a lieutenant governor candidate, have criticized Richardson’s big-spending ways for getting us into trouble.
If you currently subscribe or have subscribed in the past to the Los Alamos Monitor, then simply find your account number on your mailing label and enter it below.
Click the question mark below to see where your account ID appears on your mailing label.
If you are new to the award winning Los Alamos Monitor and wish to get a subscription or simply gain access to our online content then please enter your ZIP code below and continue to setup your account.