Updated Deficit Projections Expected Today (NM)
December 2, 2010
On Thursday morning, state lawmakers and the Richardson Administration willunveil the latest consensus revenue forecast – the product of compromisebetween legislative and executive branch economists – that will show how bigthe state’s projected deficit is and how much lawmakers will have to cut statespending.
Some lawmakers worry that Governor-elect Susana Martinez has already takentoo much off the budget-cutting table. During her campaign, the Las CrucesRepublican vowed not to cut spending on public schools and Medicaid which makesup about 60 percent of the budget. And this week Martinez appeared to add thestate Department of Public Safety to the no-cut list, another 7 percent of thebudget.
“One of the most important things when analyzing the budget is to setpriorities, and public safety is one of the top priorities,” Martinez said. “Wehave to make sure that families feel safe in their homes and their businesses,that children feel safe going to school.”< ;/p>
With Public Safety now off the chopping block, lawmakers will be trying tomake massive spending cuts to just one third of the budget when they convene inJanuary. Last month state Finance and Administration Secretary Danette Burchtold Martinez the projected budget deficit was about $450 million.
“If we just say huge departments are exempt, then I think we’re going tomiss a lot of what the taxpayers – the voters – asked for during the election,which is for us to cut unneeded resources regardless of what department they’rein,” said state Sen. Tim Keller (D) Albuquerque.
“We cannot afford right now to leave anything out and the more we say we’regoing to be able to look at, the more thoughtful we can be in terms of actuallycutting fat,” added Keller.
“If there are places to be cut it is in places that do not jeopardize thelevel of protection that citizens of New Mexico are going to receive,” saidMartinez.
She will be sworn in as Governor on January 1. The Legislature convenesJanuary 18.