Balderas attended Wagon Mound High School and participated in TRIO Upward Bound, a federally funded college prep program.

[7][8] In May 2006, he traveled to Pakistan to support President Bush's war on terror, and discussed foreign policy and United States-Pakistan relations on a top Pakistani talk show.

Balderas was nationally recognized alongside then-State Senator Barack Obama of Illinois for passing legislation that requires police to record their in-house interrogations with suspected killers.

[citation needed] In recognition of his legislative accomplishments, Balderas was named Rookie-Leader-of-the-Year by the Greater Albuquerque Chamber of Commerce for his work on energy development and Outstanding Rookie by the League of Conservation Voters.

During his first legislative term, he was chosen by the Democratic Party of New Mexico to replace Jeff Armijo on the ballot for state auditor and with a shorter period to campaign, won the election with nearly 55% of the vote.