More bad news for New Mexico’s spaceport….er money pit

Did RGF make a mistake by supporting legal reforms for the Spaceport during the 2013 legislative session? I’ve already asked that question here, but the latest news is that Virgin Galactic has again postponed its initial launch combined with construction delays at the visitors center will result in the Spaceport Authority asking for $7 million from the taxpayers during the 2014 legislative session.

The experience of the Spaceport is a classic case of government mal-investment. Gov. Richardson was sure that human space flight would be “the next big thing” and he was willing to spend other peoples’ money to make it happen (and then take full credit). Unfortunately, there is a widely-acknowledged “spaceport glut” and the longer this process drags on, the more New Mexicans will be forced to spend and the less likely the Spaceport is to succeed.

So, do legislators pour good money after bad or do we cut our losses on what is quickly becoming a money pit?

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