Monday, July 5, 2010

'A false jackpot'

A few excerpts from an editorial in yesterday's New York Times on the "delusions" that some have about casino gambling:
Gamblers aren’t the only ones prone to jackpot delusions. Politicians all over see casinos as magic revenue chests that will help them avoid painful spending cuts, escape the trap of no-tax pledges and make budget gaps vanish.
Casinos are a magnet for tainted money and promote addiction, crime and other ills.
The state’s politicians should also stop chasing gamblers. At a time when casino revenue is slumping across the country, it doesn’t even make economic sense. They need to make hard decisions on taxes and spending, and focus on developing stable industries, improving education and working their way to growth. If they keep holding out for a false jackpot, everyone will lose.

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