Commentary: Yesterday, the latest indicator that New Mexico is further sliding into a double-dip recession came after Intel announced that they would be cutting 215 employees from their plant in Rio Rancho. After the continued failing of GOP House leadership to properly address the economic downturn in New Mexico, the New Mexico House Democratic Campaign Committee released the following statement.
“Daily life is becoming even more and more difficult for hardworking New Mexicans, and House Republicans have offered them nothing in return,” stated House Democratic Leader Brian Egolf. “This recent report from Intel is just another indicator that the GOP’s trickle-down economic policies and Band-Aid fixes aren’t working. New Mexico continues to lose jobs and House Republicans continue to offer the same false promise that cutting taxes for the wealthy and out-of-state corporations can create jobs. New Mexicans are tired of the false rhetoric coming from a Republican party whose only concern is for special interests and the wealthy few. It’s time to focus on creating jobs, not campaign dollars.”
In 2015 alone, the Intel plant in Rio Rancho lost over 400 jobs. But the endemic loss of jobs has been felt statewide, affecting storefronts and communities with losses in nearly all sectors from mining to research. New Mexico is the only state in the region that has been experiencing an economic downturn, with New Mexico’s youngest and brightest moving out-of-state to pursue job opportunities elsewhere.* Republican leadership has continued to be silent as New Mexicans struggle to make ends meet.
*Peters, Joey. “Snail’s Pace: New Mexico crawls toward economic recovery.” Santa Fe Reporter, January 7, 2015.