State Budget Analysis

From the Santa Fe New Mexican - In the race to become New Mexico's next governor, Democrat Diane Denish and Republican Susana Martinez have made financial promises that will be very difficult to keep when the winner takes office in January. The candidates pledged at a recent gubernatorial debate on education issues to exempt public schools from additional budget cuts, and they vowed not to raise taxes. Both candidates also have said they would protect Medicaid from cutbacks. The promises make for good politics but dicey budgetary policy. New Mexico faces a projected deficit of about $230 million in the next fiscal year, according to the Legislative Finance Committee. That's how much money is necessary to maintain current government services and programs — from public schools and colleges to prisons and state police. Public schools are the biggest piece of the state budget, accounting for 45 percent of spending this year. Read more here:

State Budget Analysis