Our friends at the Institute for Truth in Accounting have put together, in honor of St. Patrick’s Day, a list of “gold-digger” states, those for whom federal revenues form the largest percent of their budget. Not surprisingly, New Mexico is on the list at number three. What is perplexing is just how great that reliance on Washington has grown in recent decades.
I find this study a little off on our 1992 rating. We have always been on the top of the list for receiving federal funding. I wonder if the way the N.M. Department of Labor categorizes Los Alamos as being “state funding” when they were administered by the University of California is the reason. It was really flow through federal funding.
That could be the case Will, thanks for the note. It is always important to account for the Labs’ impact on New Mexico and outsiders don’t always get it. I appreciate the point.