spending

In his commentary here at NMI the other day, Bill Jordan wrote: ”Education—which represents the largest single expenditure for the state—saw some of that increased spending. And not a moment too soon. At the end of the Johnson administration, New Mexico ranked 38th in the nation in K-12 per-pupil spending. That’s 38th worst, not best. We [...]

The fact is, our government cannot go on spending money at the rate it has been. Politicians of both parties have in the past defended deficit spending because, “We can grow our way out of the deficit.” Oh, really? So what happens when the economy contracts — as it is doing now — instead of expands?