State employees take their share of heat as overpaid desk jockeys, but then there's this from the Legislative Finance Committee:

New Mexico state employee take-home pay is the lowest in the region, largely due to the comparatively higher cost of health insurance. New Mexico state employees receive approximately 70 percent of their total compensation in salary, roughly in line with the seven surrounding states. However, employees’ take-home pay is just 55 percent of total compensation, lower than surrounding states.

That's the best part of the August LFC newsletter. Most of the rest is filled with scary stories about oil prices crashing and the state being sent to the poor house soon.

There is nearly zero recognition among the LFC economists and other Santa Fe policy wonks that this time could be different, that the boom, or at least steady surpluses, could continue for much longer than they expect. Where's the plan for that?

THE MONEY TREES

There's another money tree growing besides the one in the oil patch:

LANL has outlined an initial five-year, $5 billion institutional infrastructure plan to upgrade the lab as it gears up for annual production of 30 nuclear pits — the triggers that set off nuclear weapons — by 2026. In all, the infrastructure improvements could reach $11.2 billion over 10 years, all subject to congressional budgeting approval. . . 

The Feds are also expanding the budget and jobs at ABQ's Sandia Labs. Diversify the state's economy away from the oil patch and the Feds? That'll happen when they ban the burning of Zozobra.

KELLER'S ART?

The rapid transit project for ABQ's Central Avenue know as ART is widely regarded as the worst public project in the city's modern history. It was authored by GOP Mayor RJ Berry who left office with no political future, in part, because of it. Now in light of recent developments, the question arises if Dem Mayor Tim Keller is going to be the author of another White Elephant:

Preparing the Albuquerque Rail Yards for redevelopment could cost the city between $50 million and $80 million in infrastructure, environmental remediation and structural renovations, according to a preliminary analysis by an outside consultant. Leland Consulting Group said in a draft report filed with the city this month that the range reflects three development scenarios: $50 million is the estimated cost to ready the Rail Yards for a low-density redevelopment strategy, while $80 million is for a more intensive plan.

That's a huge amount of cash and the city has yet to pinpoint where it would come from. On the November election ballot voters are being asked to approve $5 million in bonds for the rail yards development. But it has been under study for nearly a decade and nothing much has happened. The city says it would like to get the private sector involved but after ten years there are no takers. What does that tell us?

First there was ART, the ABQ Rapid Transit project. Now there's the ABQ Rail Yards or ARR. The similarities are getting too close for comfort.

READERS WRITE

Here's the self-proclaimed "Crockagator" commenting on the huge state surpluses due to the SE oil boom:

Joe, I am wondering why the state doesn't use the new income to pay off the bonded debt the state currently has thereby lowering the tax we pay on everything but groceries. This to me would be sharing the wealth with all New Mexicans. The Crockagator.

Interesting suggestion. Legislators had so much cash last session that they paid cash for road projects without floating bonds. That had to be a first.

Reader C.T. writes of the GOP southern congressional race:

Joe, You mentioned Yvette Herrell being on the defensive. On a recent weekend she was in Deming participating in the Great American Duck Race Parade, only she had no campaign material up. She rode on a horse with a group called “Cowboys for Trump.” Again, no one was made aware that she was a candidate for Congress. Seems Yvette has not learned from her first failed attempt at CD-2 and is continuing to misstep. It definitely is going to be a steep uphill battle for her to win this primary.

No doubt Herrell is going to have to bring her "A Game" as her GOP foes Claire Chase and Chris Mathys apply maximum pressure.