Imagine having to turn down a raise in pay because it will actually make you less financially secure. Sounds crazy, but that's what many working parents have to do--and just when they're making headway in the quest to provide their family with economic stability. It's all due to the "cliff effect" and, in New Mexico, the cliff effect for child care assistance can throw families who get even a small raise right back into poverty.
Economists say it again and again: investments in higher education pay off. Unfortunately, Governor Susana Martinez’s decision to veto all funding for higher education—every penny—sent the wrong message to current and future college students worried about college costs as well as to businesses reticent of investing in a state that does not value education.
My 6-year-old daughter recently asked me a very astute question: how it was possible that people who are working can still be poor? That’s a good question! The answer can be complicated. For example, since it’s not adjusted for inflation, the minimum wage has lost about 10 percent of its purchasing power since it was last raised in 2009. Also, having an education pays off now more than ever in this 21st century economy. Adults with college degrees or industry-recognized certificates usually earn family-sustaining wages, which means they make greater contributions to our economy.