5 Important Things About New Mexico
Public Notice, via their Bankrupting America project, is looking at the economic health of all fifty states and offering a brief summary of their findings, one state each week over the course of a year. According to them, here are the top five (or more) things you need to know about the Land of Enchantment:
- John Denver, Demi Moore, Neil Patrick Harris and Judy Blume all are or were famous New Mexicans. Also, the roadrunner is the official state bird.
- New Mexico spends $7,404 per resident, ranking it 10th (from highest to lowest spending) in the nation. New Mexico’s total state debt is more than 30 percent of its gross state product, ranking it 46th among the states (50th being the state the most in debt).
- New Mexico has 603.5 state government employees per 10,000 residents. That rate is the 11th-highest in the nation.
- The New Mexico state worker pension system is only 72 percent funded. Its state worker health care program is five percent funded (the national average is eight percent funded). According to Pew, the state has $33.7 billion in liabilities, but is $12 billion short of cash.
- In 2011 (the latest year for which data is available), New Mexico’s economy grew just 0.2 percent, the 41st best showing in the nation. The economy grew 1.2 percent in 2010 and 0.7 percent the year before, but contracted 0.9 percent in 2008. Cattle, hay, dairy products, onions and chiles are some of New Mexico’s primary crops.
- See more at: http://www.bankruptingamerica.org/fifty-states-in-fifty-weeks-new-mexico/#.Uhefr20ph3u