KSFR: Richardson on short list for Obama's V.P. (2009-11-12)

-- Nov. 12, 7 a.m. -- Bill Richardson, Vice President. That job title was widely rumored to have been a distinct possibility last year. Now comes confirmation of that as Obama campaign manager David Plouffe revealed on MSNBC's "Hardball" with Chris Matthews. The news came as Plouffe said Barack Obama drew up a short list of six potential running mates that included those who had been rivals for the democratic presidential nomination. Listen.

It has been 20 days since the conclusion of the special session of the legislature--hence, it's Governor Richardson's deadline for action on the bills sent to his desk for signature, veto or partial veto. There are six budget bills remaining that the Governor will address today at a noon press conference in his office's at the Roundhouse. A spokesman for the governor says Richardson is prepared to take fiscally responsible action to help close the budget gap, while minimizing budgets cuts to education and Medicaid services for vulnerable New Mexicans.

As state officials finalize plans for this year's budget deficit, the senate majority leader is thinking about ways to solve the deficits predicted for the coming several years. Sen. Michael Sanchez of Belen (buh-LYNN) says one way to do that is to raid the state's permanent fund for an amount equal to about 20 percent of its total value. That would be about $2 billion. Sanchez says that approach could minimize the need for tax increase and protect against cuts in education and Medicaid. The permanent fund makes yearly payouts for schools and colleges. Its current value stands at about $9 billion.

On the topic of state budget woes across the nation, the Pew Center for the States has just issued a new report on those states facing the greatest financial peril. California tops the list that takes into account the size of budget gaps, rising unemployment rates and government mandated budget constraints. In a state-by-state comparison to California's dire straits, New Mexico fares relatively well in the report. While the state has suffered a 13% decline in overall revenues from the 1st quarter of 2008 thru 1st quarter 2009, the budget gap is measured at a comparatively low 6.3%. In the report's grade on how well the state has managed its money, New Mexico garners a B minus.

A long-time Santa Fe nonprofit organization says it's putting its building up for sale because it's a hundred thouand dollars in debt. The group named Open Hands offers help for the elderly and the disabled. Michelle Dube (doo-bee) says government funding has been cut, individual donations are down, and the number of people with time to volunteer has diminished. She says she's hoping to step up the flow of donations so they can continue on with their work.
The Insurance Division of the state Public Regulation Commission has created a Web site that allows New Mexicans to get the best rate on car and homeowners insurance. The site provides premium quotes for renters and owners of condominiums. Users can get quotes from all major insurers. They can also view consumer complaint ratings and financial strength ratings. Toll-free numbers and websites for contacting the insurance companies is also provided.

Weather for Santa Fe...mostly cloudy skies today with highs in the low 60s. Tomorrow brings a 20% chance of rainshowers expected to persist into Sunday. Any rain may turn briefly to snow in the colder overnight hours.

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