Borrow From Beijing - Pay Paul

Nearly $190 million is headed to New Mexico. The U.S. House of Representatives on Tuesday passed a $26 billion bill that includes extra health care funding — a projected $126 million — and additional education money — $65 million — for New Mexico at a time when many say the state is in desperate need of a cash infusion. All that’s left is for President Obama to sign the bill to make it law. State Rep. Danice Picraux, D-Albuquerque, cheered the news Tuesday. “We can keep paying our teachers, keep classrooms sizes low,” Picraux said of the extra dollars headed New Mexico’s way. “In health care, we need more money.” State House Minority Whip, Rep. Keith Gardner, R-Roswell, took a dimmer view of the cash infusion. “It’s just another Band-Aid on a gushing wound,” Gardner said. “We need surgery. Instead of making spending to equate what our revenue is, we prolong the inevitable, and that’s cutting. ”The additional federal money comes to New Mexico at a time when the state’s revenues aren’t keeping pace with expenses. State officials already have projected a sizable budget gap for the fiscal year that started July 1. Read more here:


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