As New Mexico’s Legislature discusses the final details of yet another big budget increase (12.4% year-over-year). The Cato Institute has an interesting chart in motion (click here) showing how various states have grown over the decades between 1962 and 2020 (so NM’s last few years of massive growth are not included).
In short, as of 2020, New Mexico State and local spending exceeded all but one other state at 26.6% of the State economy. Interestingly enough, back in 1962 New Mexico government was much smaller relative to other states and as an overall percentage of the economy (17.2%). Click above or the graphic below to watch the spending in New Mexico and other states evolve over the years.