Economy

This week on the New Mexico Freedom Hour

The New Mexico Freedom Hour is presented by the Rio Grande Foundation. It next airs on Saturday, September 12, 2014 from 12pm to 1pm on 770 KKOB AM. This week we’ll take on two important subjects relating to New Mexico’s economy:

• In the first half hour, host Paul Gessing will talk about New Mexico’s underfunded government employee pension system which was found to be the most underfunded system among any of the 50 states according to a new report by the Competitive Enterprise Institute (CEI). We’ll discuss the report, what makes New Mexico’s pension system so dire, and what needs to remedy the problem with Aloysius Hogan, a Senior Fellow with CEI.


• In the second half hour, Gessing will interview site selection expert John Boyd about the Tesla decision, why he thinks Tesla chose Nevada over New Mexico, and what New Mexico should consider doing to make it more attractive as a business destination in the future.

Listeners are encouraged not only to tune in and listen, but to call in with questions: 505-243-3333.

Discussing Right to Work and Work/Education/Volunteering Requirements for Food Stamps/SNAP

RGF president Paul Gessing recently appeared on the public affairs show of KNAT TV. There are two separate interviews, one on New Mexico's economic situation and the need for a right to work law, the next on Gov. Martinez's efforts to re-impose work/education/volunteering requirements for food stamp recipients. Total interview time for the combined interviews is 30 minutes:

Paul Gessing discusses the potential for a Right to Work law in New Mexico and Gov. Martinez's Medicaid reforms from Paul Gessing on Vimeo.

Duel in the Desert debate video

The video of last night's "Duel in the Desert" debate between myself and former gubernatorial candidate Alan Webber is now up:

9-8-14 Duel in Desert: Paul Gessing and Alan Webber debate the New Mexico Economy (moderated by Gene Grant) from Paul Gessing on Vimeo.

In case you missed it, we also had "dueling" opinion pieces that are now posted at NM Policy Debate.

While the crowd was definitely, pro-Webber, no matter which side of the debate you fall on, the New Mexico economy is the single most important issue facing our state. I was gratified to see hundreds of people show up to hear a discussion of the issues. It was a great opportunity to present the Rio Grande Foundation's vision of a more economically-free New Mexico to a new group. Definitely not "preaching to the choir."

Local, National, Global: Paul Gessing interview on the NM economy

I recently sat down with Jamai Haquani of the Albuquerque-area public access show Local, National, Global to discuss New Mexico's struggling economy and what can be done about it. See part 1 of the interview below:

part 2:

part 3:

This week on the “New Mexico Freedom Hour”: What is Texas doing right economically? What can we learn from their success?

Texas continues to outpace the nation in jobs and economic growth. New Mexico, on the other hand, lags dramatically behind the region and the nation.

Rather than focusing on New Mexico's woes, this week on the "New Mexico Freedom Hour" presented by the Rio Grande Foundation which airs next on Saturday, August 30, 2014 from 12pm to 1pm on 770 KKOB AM, we'll focus on understanding what Texas does so well when it comes to economic development and job growth. Of course, we'll also plug our guest for ideas on what New Mexico could do to compete with the Lone Star State.

Host Paul Gessing will interview Chuck DeVore, Vice President of Policy with the Texas Public Policy Foundation. DeVore is author of "The Texas Model: Prosperity in the Lone Star State and Lessons for America."

Listeners are encouraged not only to tune in and listen, but to call in with questions: 505-243-3333.

RGF president Paul Gessing's recent discussion of oil and gas and New Mexico's economy

I recently sat down with Wally Drangmeister of the New Mexico Oil and Gas Association to discuss New Mexico's economy and how it depends on the oil and gas industry as well as potential ways to use the industry as a bridge to a more prosperous economy. The show originally aired on the Energy New Mexico Hour which airs on Sunday mornings from 10 to 11am. Take a listen here.

Right-to-work law and lower taxes will help more than subsidies

It's official. Tesla has broken ground at its new "gigafactory" near Reno, Nevada. While New Mexico appears to have missed out on Tesla and its expected 6,500 jobs, some legislators, when asked, seem willing to spend as much as 500 million tax dollars to lure the company to the state.

While details are by no means firm, it appears that Tesla is looking for an infusion of $500 million, not tax breaks of $500 million. The difference between the two is that tax breaks don't actually "cost" the state/taxpayers anything because Tesla would have to locate in New Mexico for any tax revenue to result from its activities. When it comes to outright spending of New Mexicans' tax dollars, those are dollars that come directly out of the pockets of average New Mexicans and the businesses already located here.

This important nuance explains why we at Rio Grande Foundation oppose payments made to the film industry which, according to a new legislative report, paid out $251 million in incentives to the film industry with $103.6 million in state and local tax dollars generated over the same basic time period. In simple mathematical terms, the state spent $147 million more than it generated from the film industry in recent years. That's called a "loss" in any other industry. Jobs were created, but the net loss really illustrates the inherent problems with the program.

The same reasoning explains why fiscal conservatives should not support outright spending of $500 million to bring in Tesla. Tax breaks are one thing, but if the company goes under, there are no "clawbacks" that will get $500 million in outright spending back.

Rio Grande Foundation to Host Bi-Weekly Radio Show on 770 KKOB AM

(Albuquerque, NM) — New Mexico’s only free market think tank, the Rio Grande Foundation, is hosting an hour-long radio show on 770 KKOB starting this Saturday, August 16, from noon to 1pm. The show will air every two weeks through at least the end of 2014. The show, entitled “New Mexico Freedom Hour” will focus on economic and education issues here in New Mexico with an eye towards real solutions that have been tried in other states. The format will involve interviews of guests from across the political spectrum and phone calls from the public. The call-in number is: 505-243-3333. Said Rio Grande Foundation president and primary host, Paul Gessing, “This show offers the listeners a unique forum in which to learn about and discuss the ways in which free markets and limited government can help everyday New Mexicans lead better lives. Show topics will include labor freedom, taxation, education reform, and an economic history of New Mexico to name just a few.

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