Letter to the Editor

Not learning lessons

Editor:

As fun as it is to watch and listen to what’s going on at the federal level with the run for president, what is going on in New Mexico with our Democrat governor and legislators? Not much!

New Mexico has a surplus of $3.8 billion and what is the Democrat-dominated Legislature doing with all that money? It’s certainly not being spent on anything of consequence. The U.S. News and World Report recently published its “Best States” report, and New Mexico ranked an abysmal 49th overall. In specific catagories:

1. On education, dead last at 50th

2. On crime, we are 48th

3. On economy, we are 45th

4. On infrastructure, we’ve declined from 17th in 2019 to 44th this year

Why is it the voters in this state seem to be proud of these statistics? They vote Democrat year after year and expect things to get better? It’s sad to think that maybe they don’t care if things get better.

But where are New Mexico’s failing elected officials squandering the $13.8 billion that oil and gas has generated in tax revenues? There is some hoarding going on, but also some boondoggles by the State Investment Council (SIC). The SIC is “investing” $50 million in a “climate-focused” fund-managed by a venture firm in California. Yes, California, not New Mexico! Apparently, low-ranking New Mexico is not good enough for investment purposes.

Bad investments abound: How about the taxpayer-funded Spaceport America and its lead tenant Virgin Galactic? Virgin Galactic’s stock has gone from more than $50 to dropping below $1 per share. Compliments of failed Democrat policies. Please legislators, do not spend anymore taxpayer’s money on Spaceport America; it’s been a losing proposition all along.

We’re not even going to mention the Rail Runner boondoggle that has cost New Mexico taxpayers a bundle.

You’d think by now the people running our state couldn’t possibly think up a more wasteful way to spend the $13.9 billion provided to them by the oil and gas industry, but they can and did. Our governor last year offered Maxeon Solar $2.4 billion in industrial bonds and $20 million in LEDA (Local Economic Development Act) subsidies.

This was supposed to be MLG’s “crowning achievement” in economic development. Not! As of last April 2024, Maxeon’s stock had plummeted from more than $50 per share to less than $2 per share! Not only that, but now the Chinese government invested $200 million in the company and now has controlling share. The company is also being investigated for violations of federal securities laws. Is this MLG’s failed “Solyndra 2.0?”

The corporate welfare-thinking of the Democrats running this state is absolutely mind-boggling. What makes the New Mexico Environmental Department think that the taxpayers would just love to give the United Parcel Service (UPS) almost $500,000 to buy “clean” delivery trucks? UPS is one of the largest companies in America; it seems that they could afford to buy their own trucks.

It’s apparent that New Mexico politicians don’t learn their lessons about corporate welfare. They only care about throwing taxpayer’s money at their own favored businesses even though it may leave taxpayers on the hook.

“New Mexico is the third poorest state in the Union. Our politicians’ propensity to support corporations with our money (instead of returning it to us and improving our state’s business climate) is one of the many reasons for this. Only the voters can force change in New Mexico that brings wealth and prosperity,”said the Rio Grande Foundation.

Donna Crawford

Los Lunas