Can New Mexico Find the Freedom to Prosper? With Paul Gessing | Let People Prosper Show Ep. 154🎙️

From bloated budgets to Hollywood handouts—how the Land of Enchantment can reclaim economic liberty.

Hello Friends!

Why does New Mexico, rich in resources and culture, remain poor in economic freedom?

That’s the question I explore in this week’s Let People Prosper Show with Paul Gessing, president of the Rio Grande Foundation. Paul brings nearly two decades of insight into New Mexico’s political and economic trends, offering a sobering look at why the state is falling behind and what must change to turn it around.

New Mexico has a shrinking population, high poverty, and a growing dependency on government, despite a $61 billion sovereign wealth fund and booming oil revenues. The problem isn’t money; it’s policy.

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🎯 Key Takeaways

1. Economic Freedom in Decline
New Mexico is the only state to experience a four-decade decline in economic freedom. That’s not a coincidence—it results from high taxes, excessive regulation, and government overreach.

2. Hollywood Handouts Are a Flop
Film subsidies might look glamorous, but they’ve drained public funds with little to no return. As Paul says, “Hollywood subsidies are a money loser.” These programs pick winners and losers—something markets, not governments, should decide.

3. Healthcare & Medicaid Overload
New Mexico’s Medicaid rolls continue to swell. The state’s small population can't sustain this without meaningful reforms, especially as federal funds eventually shrink. Paul and I discuss how this dependency traps people in poverty.

4. Leadership for a New Direction
Paul highlights that New Mexico still has tremendous opportunities—energy resources, natural beauty, and a passionate population. However, those advantages will remain underused without leadership that prioritizes freedom and responsible budgeting.

🧠 My Take:
New Mexico is a case study in what not to do—excessive spending, corporate welfare, and economic central planning. But it doesn’t have to stay that way.

To let people prosper, we must:

• Champion universal school choice, not failing government monopolies.

• Promote low, flat taxes that reward work and entrepreneurship.

• End corporate handouts like film subsidies that don’t deliver.

• Reduce dependency on programs that trap people in poverty.

• Follow free-market playbooks proven in Texas, Florida, and elsewhere.

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Timestamps:

• 00:00 – Intro to New Mexico’s unique challenges

• 08:51 – Historic roots of NM’s economic issues

• 12:02 – Film subsidies: cost vs. return

• 15:01 – The fall in economic freedom rankings

• 20:52 – Poor policy, lost potential

• 26:00 – Competing with Texas and Arizona

• 29:16 – Future threats to oil and gas

• 30:41 – Solutions for a freer, more prosperous state

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🔚 Final Thoughts

New Mexico has the potential to rise—but only if it chooses freedom over dependency and prosperity over politics. As Paul and I discuss, the right reforms can unleash a new era of opportunity in the Land of Enchantment. Let’s not waste the moment.

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