Another Taxpayer-Financed Stadium/White Elephant

Most New Mexicans are abundantly aware that the Rio Rancho Star Center has quickly turned into a white elephant. The City of Rio Rancho recently took over management of the facility, in part because the Center has lost an astounding $580,000 since it opened in 2006 (this does not include the $36 million in [...]

Dueling Film Studies

A few days ago I discussed the generous incentives that have been used to attract filmmakers to New Mexico. I’ve had several questions about which study I believe to be more accurate and unequivocally I say the Arrowhead Center Study which was done at the request of the Legislative Finance Committee, not the Ernst and [...]

Film Subsidies Hurt New Mexico

Something I blogged about at the start of November and included in our “2008 Piglet Book” has finally been picked up by the Associated Press.
The story, which was reported in the Albuquerque Journal on Sunday is that New Mexico’s film Incentives hurt our economy rather than helping it. While the fact that that New Mexico’s [...]

More on the Mayors’ Bailout

As I wrote on this site a few days ago, Albuquerque Mayor Marty Chavez is asking incoming President Barack Obama for a $1.6 billion bailout. Obama has already pledged to “invest” in infrastructure, so Mayor Marty is just getting his, right?
Unfortunately, as Kristina Rasmussen of the National Taxpayers Union points out in a recent article [...]

Ed Sandoval Misunderstands His Role in NM Economy

On Sunday there was an interesting article in the Albuquerque Journal explaining that legislators have found $173 million worth of unspent funds that could be re-allocated for other uses. While the opportunity to re-allocate unspent funds that would have otherwise been wasted on a $22.3 million equestrian center would seem like a good thing, Ed [...]

Economists Have Abandoned Principle

Having been out of state for much of this week, it has been tougher to follow the action locally, here in New Mexico, but I did see this great article from the Wall Street Journal from Wednesday. The authors’ essential argument is that while we expect Congress and corporations to behave badly, we have seen [...]

From Market Economy to Political Economy

While all these bailouts are economically dubious from a policy standpoint, Charles Krauthammer points out that their real danger is in shifting the emphasis of business from economic success and innovation and to political lobbying. What he doesn’t state explicitly is that President Bush is largely responsible for the shift. He does point out that [...]

One Good Reason the Average Texan is Wealthier than the Average New Mexican

Despite tough economic times and plummeting oil and gas prices, Texas maintains an $11 billion surplus (without forcing its citizens to pay an income tax). As this article points out, despite the surplus, politicians in the Lone Star State are not calling a special session to spend the money, unlike the Governor of a neighbor [...]

Is the end near for Eclipse?

It looks like the endgame may finally be near for Albuquerque-based Eclipse Aviation. According to KOB TV, Eclipse employees found out that they won’t be receiving paychecks from their past two weeks of work. With no money to pay employees, it would seem doubtful that the company can go on much longer — how long [...]

What’s the Economic Impact of the Film Industry?

Regardless of what happens on Election Day, New Mexico is facing a tougher economic climate than it has faced in quite some time. We will be front and center with solutions to reduce the budget and ensure that economically-devastating tax hikes are not foisted on already reeling New Mexico taxpayers.
To this end, we have [...]

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