Why tap the permanent fund for more education spending?

The New Mexico House of Representatives has passed legislation that would tap the State’s permanent fund for more education spending. Supporters claim that spending more money on K-12 is an “investment in the future.”

Regardless of the tenuous connection between education spending and results (New Mexico is in the middle of the pack when it comes to education spending, but at the bottom in results), the fact is that New Mexico’s education system seems to be mis-allocating resources. One thing is definitely true, according to a new report (see table 8) from the Friedman Foundation for Educational Choice, “New Mexico is one of 21 states that employs fewer teachers than administrators and other non-teaching staff.”

We certainly don’t have much use for the “Three Tiered Licensing System” which according to the Legislative Finance Committee “has not improved student performance with (increased) taxpayer investments in teacher pay.”

So, in conclusion, the proposed constitutional amendment would tap the permanent fund to the tune of $60 million annually (starting out) as a political payoff to the unions, nothing more, nothing less.

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3 Replies to “Why tap the permanent fund for more education spending?”

  1. No more taking money out of the permanent fund. Richardson set a bad precedent when he took money out of the permanent fund. Permanent is permanent. Look it up in the dictionary.

  2. I have only lived in Albuquerque for 15 years and have noticed no changes or improvements in the High School graduation rate. NM still ranks very close to the bottom of the states’ rankings.
    The system is broken and has to change. First the unions are at fault, as is the APS superintendent.

    So, adding more money without changing the process will not work

    I serve on the Foundation Board of a successful high school charter school where 98% of the graduates go on to college. Yes, the school retention rate (the graduating class is much lower in numbers than the entering freshman class) is not what it could be but still better than the public schools.

    An educated high school graduate who can handle college or a job is vital to the longer term economic growth of the State. APS public schools have failed and must be overhauled.

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