Centrist Dem Prez hopeful Joe Biden failed to break through in Iowa and raising questions about his viability going forward. If he is knocked out it could have an impact on the race for the southern congressional seat held by first term Dem US Rep. Xochitl Torres Small.

So say political observers who believe a more liberal nominee than Biden, such as Bernie Sanders or Elizabeth Warren, could pump up President Trump's numbers in the conservative leaning district. That in turn could cause problems for Torres Small who won the district in '18 by less than 3,000 votes over Republican Yvette Herrell.

It isn't only the prospect of a liberal nominee that has Dems fingering their worry beads. They point out out that billionaire Dem Michael Bloomberg has carved out a position as an outspoken advocate for gun control, an unpopular position in the 2nd CD. If he's the nominee Torres Small might have to run and hide on that issue. She made a point of showing herself hunting with her gun in one of her widely viewed TV campaign ads.

Republicans are desperate to take back the seat as they have no leader of statewide or congressional standing. They have been wiped off the map by the state's Blue Wave. Currently, NM Supreme Court Justice Judith Nakamura is the ranking Republican in the state and that is not a position from which you dabble in politics.

Federal candidates filed their petition signatures with the secretary of state Tuesday in preparation for the March 7 major party pre-primary conventions where delegates will vote on placing the contenders on the June 2 primary ballot. They will need to get 20 percent support there. If not, they would have to gather more signatures to make the ballot.

There were no major surprises but Andrew Perkins who was offering token primary opposition to Dem US Rep and US Senate candidate Ben Ray Lujan, failed to file signatures. As a result he will apparently not be on the June ballot. That leaves Lujan unopposed for the nomination. He and six Republicans running for the GOP nomination all filed signatures.

JUDGE FILINGS

Also filing petition signatures Tuesday were the statewide judge candidates:

Republican Ned Fuller is running against Bacon and Republican Kerry Morris is running against Thomson. Thomson and Bacon were appointed to the court last year. By law, appointed justices must run in the next statewide general election in order to keep their seats. Running against Court of Appeals judge Zach Ives is Republican Barbara Johnson, and Democrats Shammara Henderson, Kerry Kiernan and Jane Yohalem along with Republican Gertrude Lee are competing for a second Appeals Court judgeship.

TRUST FUND

It began legislative life as a $320 million "trust fund" for early childhood but it's shrunk to $300 million and could shrink more when the Senate gets to the plan.

The $7.61 billion state budget approved by the House Appropriations Committee Monday did the trimming. That had advocates for the long-proposed constitutional amendment to fund early childhood saying their plan is more solid because it would be funded annually by a small percentage of the nearly $20 billion Land Grant Permanent Fund and not dependent on oil revenue as the trust found would.

Some lawmakers are jittery over putting so much of the oil surplus into the trust fund. They worry that oil boom revenues will not keep pace with spending. However, the Senate Finance Committee, which has been unfriendly to the early childhood amendment in the past is still unfriendly.

The House is again expected to pass the constitutional amendment. A possible compromise floating is to have the Land Grant Fund used for a dozen years as a source for early childhood and then let the trust fund from oil revenues take over. By then, the reasoning goes, the fund would be large enough to generate annual interest that would be more consequential.

If the early childhood trust fund is reduced more (there's talk of going to $290 million or less), the interest the fund generates each year would be reduced accordingly.

MONEY GRUMBLING

The Dems argue that when  accounting for inflation the state's General Fund budget has barely budged the past decade. That's why they say the jump in spending from around $6 billion to $7.6 billion in two years isn't that big of a deal. Bu that isn't stopping conservatives from grumbling and loudly, Here's some equal time with reader Dave:

New Mexico's state budget plan: There is a budget surplus. Bad mouth and demonize the oil industry who contribute nearly 40 percent of the state's income. Give all your pals in NM govt big raises. Hire more govt employees. Spend like there is no tomorrow. Then raise taxes on the citizens because you are afraid you spent too much and won't know what to do when the next economic downturn comes. When it all backfires, blame someone else. Stay in power long enough to max out your govt pension. Laugh the whole way to the bank. Tell the people all the good you are doing. They aren't paying attention. Move to a more prosperous state when you retire and vote for people just like yourself. 

Hear that all you Roundhouse big spenders? Okay, now back to your punch bowls. There's a party going on.

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(c)NM POLITICS WITH JOE MONAHAN 2020