Does Mexico represent a clear and present danger to the security of the US?

Yet another story on yahoo news today about how Mexico's richest city is on the verge of being taken over by drug cartels. Stories of countless kidnappings, beheadings, and floods of people risking life and limb to come to the US to escape the violence. Not to mention US citizens being murdered along our own borders, and border patrol agents facing murder chargers for returning fire against drug dealers. So when will the US start dealing with the the threat that Mexico represents instead of spending hundreds of billions on a third war in Libya? Or is Mexico not a big enough problem yet?