Thursday, 01 November 2018 17:17
Voter Education: Bonds
What should voters know about the bond questions that are on the ballot?
NMBC believes there is too much fraud, waste and abuse in government and the only way to stop it is to stop the flow of taxpayer money to fund it. In fact, in the rare cases where voters do reject a bond issue (like the $150 million General Obligation Bond for Higher Education that voters defeated in 2010), it makes a huge difference in how elected officials and directors of our universities take notice of what concerns the public.
Let’s take a look, for example, at the need for Higher Education Facilities: Did you know that, according to an Albuquerque Journal Editorial, New Mexico has a total of 31 colleges and universities, each with multiple branches and satellite locations? With all those educational facilities, you’d think New Mexico would be at the top of the nation for education and child development, right? We know that is not the case, and that is why NMBC suggests voters consider whether the continued expansion and spending to fix up empty or underused buildings makes sense.
NMBC understands bond issues provide for the improvement of government facilities and often provide jobs. We do not oppose either. Rather, we encourage voters to consider the true need for further expansion of libraries and higher education facilities given declining use and student enrollment. And take a hard look at where the money goes. Whatever the bond is supposed to be used for, voters should ask the end users (teachers, officers, firefighters, etc.),“How much money from the last approved bond issue actually made it to your level or the place it was advertised to support?”
Another view about the need for New Mexico to take on more debt through the issuance of bonds comes from the National Taxpayers Union, HERE.