Monday was President’s Day, officially celebrated on the third Monday in February, honoring all of those who have served as president of the United States. This holiday was first celebrated in 1879 to recognize Presidents George Washington and Abraham Lincoln.
I wonder what President Washington and President Lincoln would think of what has happened over the years in and to the United States? Would they recognize the Congress of today?
I think it would be very interesting to listen to them today as we discuss issues of taxation, regulation, spending, education and national security.
On Monday morning during Rules Committee, we passed a Bill enshrining over $9B to the future of Early Childhood Education. In 1880, the United States had a surplus in the budget of over $100 million. That caused a real problem!
Policymakers were forced to defend the surplus and try to figure out how to cut taxes equitably among taxpayers. Today, the United States has a budget of $6.75 trillion, loaded with a deficit of $1.83 trillion. Today, every person in America is burdened with almost $2,000 each, just to pay the interest on our debt or about $660 billion, annually.
I think the presidents mentioned above would have a hard time grasping that fact. But with that said, we have come a long way. I doubt they would believe we successfully put men on the moon, or grasp the fact of a of fighter jet flying at nearly 10 times the speed of sound.
My point is, we should embrace our successes and accept the known challenges before us as a civilization. We can continue to develop a better life for each of our citizens, but we should acknowledge the responsibility to allow future generations to make decisions other than being challenged on how to pay the debt we encumbered them to. Our responsibility is to provide them a bright future that is safe and prosperous.
Today in New Mexico, for many reasons, but predominantly because of the God-given blessing of the Permian and Delaware basins, we have much income. I have said on the House floor that “we have more dollars than sense.” We certainly have more money than we have capacity to deploy responsibly.
I believe we should pay down some debt in times of abundance. We are putting some funds into “permanent funds” as we did Monday for Early Childhood, but we need better plans.
On Sunday, I voted against SB1, SB2 and SB3. All three intertwined Bills facilitated $1 billion into a permanent fund, plus a $200 million initial investment, to try to address mental health issues in New Mexico. I do believe we have a crisis of mental health, but we needed a better plan. I support a significant investment, but smaller, allowing us to perfect a process that we could then replicate across our state.
Putting $1 billion into a fund, without adequate protections in New Mexico will cause many mischievous thoughts and opportunities. Judiciously protecting such investments is no easy task — maybe equally laborious to addressing mental health.
We also should return and reduce the tax burdens on citizens when we have surpluses. Putting dollars in our citizens’ pockets strengthens their standard of living, increases cash flow in communities and small businesses and enhances communities and children’s lives. We have that responsibility above just increasing our spending to meet temporary surpluses.
Our state has been blessed with resources — industrious businesses with amazing employees enabling a bright future.
I think our past presidents did much to provide for our ability to prosper and we should do the same for those that follow in our paths.
We should perform our jobs as wisely as they did providing opportunities for their futures.