State leaders eye more budget cuts ( NM )

The New Mexican ^ | 7/25/2009 | Kate Nash |

[george76]

While Gov. Bill Richardson's office said the possibility remains that there won't be a special session, key legislative leaders say it's hard to imagine balancing this year's budget without one.

Senate Finance Committee Chairman John Arthur Smith, D-Deming, said the state is likely to face a shortfall for the current fiscal year of between $300 million and $400 million.

"Personal and corporate taxes are down," he said. "Gross receipts are tanking, and natural gas prices are still very anemic. At this stage, I don't think we can avoid it (a special session)."

According to CNNMoney.com, a June study by the Center for Budget Policy and Priorities found that at least 12 states and the District of Columbia are dealing with shortfalls totaling $23 billion in budgets that have already been adopted.

Still, Smith is worried about tapping too far into New Mexico's reserves. He predicted reserves this fiscal year could drop as low as 2 percent of the state's roughly $5.5 billion budget. Lawmakers in the past have been able to keep the reserves at around 10 percent.

And, even though other states, such as California, are in much more serious crunches, that doesn't make the choices any easier.

Smith said he will consider every alternative before laying off or furloughing state employees.

[george76]

Get rid of the governor's overpaid incompetent exempt employees

.

[NaughtiusMaximus]

So how’s that hope-n-change stuff working out for y’all, New Mexico?

You bought his BS and voted for him.

[greyfoxx39]

NM Ping

If you want on or off the NM Ping list, please FReepmail me.

Access to the ping list is available to anyone by going to my FR home page.

[ViLaLuz]

Send the illegals home and seal the border. That should help.

[greyfoxx39]

So how’s that hope-n-change stuff working out for y’all, New Mexico?
You bought his BS and voted for him.

Consider the NM demographics....heavily hispanic and heavily indian, who bought into the "change" thingy, looking for more gubmint handouts.

WE FReepers didn't vote for him!

[Concho]

The elite in Santa Fe, as well as Bingaman and Udall think that they can keep increasing the tax rates and that it will equate to increased revenue. Are you paying attention boys? See what your increased taxes are doing? Its breaking the state. Extortion is never a good solution to increased revenue.

I have been telling them that they have driven the economy underground, people are not reporting income, dealings are in cash now or barter.

The Gross Receipts tax is the first culprit, do they wonder why corporate receipts are down? Its because the businesses are flocking out of the state in droves. Even the Mexicans are wise enough to know that Socialism doesnt work.

[Quix]

Thanks.

[Concho]

On the other side, this is a wonderful example of what we can do if we simply refuse to pay their taxes. The beast can be starved.

Also, if you NM freepers want to do something, be making the calls and demanding that the eastern and southern portions of the state, the conservative base, get New Mexico news. The Dems have shut off New Mexico news to the republican base of the state. What they dont know, wont hurt us, right? Well they slipped that through about 4 years ago, and the entire eastern 2 rows of counties as well as the southern do not get New Mexico News and cannot raise hell about these issues. Only if the state corporation commission and the FCC and the powers that be get enough calls and filings, will they be forced to make this change. Your state senators and representatives claim ignorance of this. I called the senator from Tucumacari and discussed this and he claimed he didnt know about it. Huh? He is supposed to be a Republican. He knows about it now. Get on those other senators and representatives from the east and south side that only get Amarillo, Lubbock and El Paso news and make them do something. Only when all the voters know what is going on can any of this change.

[CougarGA7]

The illegals don't stay in New Mexico.

Notice how its the only border state that's not dark red. Even illegals cant stand the likes of Richardson and 80 years of Democrat rule in the state legislator.

[1ofmanyfree]

Send the illegals and politicians to Mexico home and seal the border. That should would help.

[ViLaLuz]

DEFINATELY!