Quantcast

SHUTDOWN IMPACT New Mexico amid shutdown: Economist warns of another recession

Print
Font Size:
Default font size
Larger font size

Posted: Wednesday, October 2, 2013 10:00 pm | Updated: 12:42 am, Thu Oct 3, 2013.

A prolonged federal government shutdown could have perilous consequences for New Mexico’s fragile economy, rippling across multiple industries in a state that relies more than most on federal spending. At least one economist warns the budget impasse could thrust the state into another recession if it continues past next week.

New Mexico has more than 32,000 federal workers. And because it’s a small state, that number represents 3 percent of the labor force, which is higher than the national average. Likewise, military workers make up 1 percent of the state’s workforce, a percentage twice the national average, said Christopher Erickson, associate professor of economics at New Mexico State University.

Subscription Required

An online service is needed to view this article in its entirety. You need an online service to view this article in its entirety.

Have an online subscription?

Login Now

Need an online subscription?

Subscribe

Login

You must login to view the full content on this page.

Thank you for reading 10 free articles on our site. You can come back at the end of your 30-day period for another 10 free articles, or you can purchase a subscription at this time and continue to enjoy valuable local news and information. If you need help, please contact our office at 505-983-3303. You need an online service to view this article in its entirety.

Have an online subscription?

Login Now

Need an online subscription?

Subscribe

Login

Rules of Conduct

  • 1 No Alias Commenters must use their real names.
  • 2 Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
  • 3 Don't Threaten or Abuse. Threats of harming another person will not be tolerated. and please turn off caps lock.
  • 4 Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.

Welcome to the discussion.

3 comments:

  • Hector_Sanchez posted at 8:40 am on Thu, Oct 3, 2013.

    Hector_Sanchez Posts: 15

    “This furlough is none to good for our local economy,” Erickson said Wednesday,

    Yes, and the editors and writers of The New Mexican continue to prove that they can't spell!

     
  • Edward Brown posted at 8:12 am on Thu, Oct 3, 2013.

    ERB Posts: 12

    I wonder why Christopher Erickson has not discussed on the impact of the $36Billion OBAMA care tax increase in 2013. This will push us over the edge.

     
  • Greg Mello posted at 7:19 am on Thu, Oct 3, 2013.

    Greg Mello Posts: 9

    Sources on Capitol Hill say that the "Weapons Activities" budget line that funds (roughly) 70% of Los Alamos National Laboratory (LANL) has about 3 months of funding available despite the general shutdown, due to loose management. "Defense Nonproliferation," another LANL funding line, has much more than that. So while some LANL programs are or will soon be affected, most will not.

    A comparison with the situation in much more crucial federal program is in order, the Women and Infant Children (WIC) program, which is rapidly running out of cash. WIC serves 8.9 million mothers and young children in tough circumstances, buying infant formula and providing many other essential services. Protecting mothers and children is at the core of any conception of society, any social contract. Investments in maternal and infant health are, as much as anything, what society is for. In the case of WIC, these investments have been shown to be extremely cost-effective.

    WIC has an annual budget of $7 billion or so, a little less than Weapons Activities. In New Mexico, WIC spent $56 million in federal funds in 2011, serving 62,000 mothers and children.

    If LANL were to forego ONE SINGLE DAY of Weapons Activities funding, WIC in NM could be funded for a month, probably enough to past this budgetary civil war. Young lives are at stake. Babies need nourishing food EVERY DAY.

    Clearly our conception of national security has become deeply skewed.

     
(%remaining%) Remaining Thanks for visiting Santa Fe New Mexican. If you are 7-day print subscriber, please create an online account and then click 'subscribe' to register for your unlimited access. Otherwise, you're entitled to view 10 free articles every 30 days. Then, if you enjoy our site and want full access, we'll ask you to purchase a subscription.
(%remaining%) Remaining Thanks for visiting SantaFeNewMexican.com. You're entitled to view 10 free articles every 30 days, and you currently have (%remaining%) free articles remaining ((%remaining_reg%) before being asked to register and (%remaining_sub%) before being asked to subscribe). Then, if you enjoy our site and want full access, we'll ask you to purchase an affordable subscription.
(%remaining%) Remaining Thanks for visiting SantaFeNewMexican.com. You're entitled to view 10 free articles every 30 days, and you currently have (%remaining%) free articles remaining ((%remaining_reg%) before being asked to register and (%remaining_sub%) before being asked to subscribe). Then, if you enjoy our site and want full access, we'll ask you to purchase an affordable subscription.
(%remaining%) Remaining Thanks for visiting SantaFeNewMexican.com. You're entitled to view 10 free articles every 30 days, and you currently have (%remaining%) total free articles remaining ((%remaining_reg%) before being asked to register and (%remaining_sub%) before being asked to subscribe). Then, if you enjoy our site and want full access, we'll ask you to purchase an affordable subscription.
(%remaining%) Remaining Thank you for reading SantaFeNewMexican.com. You have viewed (%viewed%) of your 10 free pages in 30 days. Please login or register at this time and enjoy the next (%remaining%) articles free of charge. After your 10 free articles, we'll ask you to purchase an affordable subscription.
(%remaining%) Remaining Thank you for reading SantaFeNewMexican.com. Because you have already viewed this article, you may view it again as many times as you would like without subtracting from your remaining free article views.
(%remaining%) Remaining Thank you for registering on SantaFeNewMexican.com. You're entitled to view 10 articles for free every 30 days, and you currently have (%remaining%) remaining. Then, if you enjoy our site and want full access, we'll ask you to purchase an affordable subscription.
(%remaining%) Remaining Thank you for reading SantaFeNewMexican.com. You're entitled to view 10 articles for free every 30 days, and you currently have (%remaining%) remaining. Then, if you enjoy our site and want full access, we'll ask you to purchase an affordable subscription.
(%remaining%) Remaining Thank you for reading SantaFeNewMexican.com. You're entitled to view 10 articles for free every 30 days, and you currently have (%remaining%) remaining. Then, if you enjoy our site and want full access, we'll ask you to purchase an affordable subscription.
(%remaining%) Remaining Thank you for reading SantaFeNewMexican.com. You're entitled to view 10 articles for free every 30 days. This is your last free article this period. On your next article we'll ask you to purchase an affordable subscription.

Follow The Santa Fe New Mexican

Advertisement