I watched President Obama's economic address last evening. I thought he did a good job of explaining the situation and made a good case for painful compromise on the deficit.
Certainly, government spending will take a huge hit. Nationally, we will all see scary reductions in Social Security, Medicare, and other entitlement programs. It is just bitter medicine. But, what happens in New Mexico where federal spending on military and defense, Sandia and Los Alamos National Labs, and thousands of other federal jobs from Forest Service employees to Department of Agriculture field representatives....etc. etc.
The Land of Enchantment is going to take a huge hit on employment. There will be layoffs of federal employees as many agencies will look at 15-20% cuts in their budgets. Since 80% of their budgets are devoted to paying employees you can see the devastation that will occur. It will be the younger workers who will be hit worse since seniority will decide on who goes or stays. And, worse yet New Mexicans will most likely lose some valuable services and economic development projects.
Additionally, since we are a state with many poor folks, the cuts in medicaid and medicare will be disproportionately harsh. Not only on the poor but also the medical establishment, hospitals and clinics that get that money.
And what is the state doing to prepare? Sorry the Governor is busy chasing immigrants and their drivers licenses. She and her neo-con handlers haven't seen the future. If they would bother to think a little outside the wedge issue box then they might realize as unemployment rises their reelection efforts turn to toast.
Someone better get to work and quick. The hour glass is emptying.
In the meantime I will be off playing golf for a couple of days in Pendaires.