Do-Over at Commerce

Can't really say I'm too broken up over this. I've never fully understood the amount of cachet that Richardson has seemingly carried among the Democratic Party's leadership over the last 20 years. He's been a loyal solider, true, but he's always struck me as something of a lightweight on policy matters, he's a potential disaster in a public forum, and he's perhaps not the most trustworthy character in Democratic circles, either. And then there's the matter of the man's philosophy of government's role in commerce:

Richardson is one of the nation's most aggressive proponents of public-private economic partnership. After he became New Mexico's governor in 2003, he launched one of the most rule-bending development programs in the U.S., toppling old barriers between the private and public sectors.

Tapping billions amassed over the years through royalties and taxes on natural resources extracted from publicly owned land, Richardson's administration put up hundreds of millions of dollars in state money to provide venture capital to technology start-ups in everything from solar-power equipment to medical devices. New Mexico took a 5% equity stake in Eclipse Aviation, an Albuquerque-based maker of light aircraft. Richardson offered generous subsidies and interest-free loans to Hollywood studios to lure film production work. And he invested $250 million to build a "space port" to host commercial space travel by Richard Branson's futuristic venture, Virgin Galactic.

Naturally, this rising tide of private-sector investment has lifted all boats down New Mexico way, right?

Poverty is on the rise in the United States. Unfortunately, New Mexico has one of the highest rates of poverty in the Nation. While poverty is an issue across the state, some areas are hit harder than others. For example, McKinley County ranks as the 20th poorest county in the nation based on per capita income. Some demographic groups also experience poverty at a higher rate than others. These include Native Americans and Hispanics. A high percentage of single family households headed by women live in poverty. New Mexico has the 11th highest rate of poverty among its elderly population. Almost a quarter of New Mexicans who have disabilities live in poverty. An even higher percent of New Mexico's children find themselves growing up poor, making New Mexico the 4th highest state in the country for children living in poverty. Altogether, approximately 437,000 persons who live at or below 125 percent of the poverty line in New Mexico are eligible for legal services. These people live in about 128,000 households.

Okay. Given the benefit of the doubt, maybe Richardson's a superior dealmaker behind closed doors, but now that he's gone, Obama has a chance to upgrade the position. I don't have any nominations to make (though I am available to serve my country at a moment's notice), but I'd suggest a fresh face for the position, not some B-list Clinton retread like Bill Richardson. Just a thought.

---Vitelius

Comments

[Lol]

Bill should step down from the governor's office. We don't need a crook in SF.