Sunday, January 4, 2009

Stimulate This

This can't be right.
Governors across America are hoping Congress and President-elect Barack Obama put together a federal stimulus package that will help their states. Gov. David Paterson and a number of other governors will be on a conference call this afternoon to talk about their needs. New York has a $15.3 billion budget gap, and Paterson has proposed budget cuts in education and health care. Also on the call will be Massachusetts Gov. Deval Patrick, Ohio Gov. Ted Strickland, Wisconsin Gov. Jim Doyle and New Jersey Gov. Jon Corzine.
Massachusetts and Ohio maybe, but New York, Wisconsin and New Jersey? No, they can't possibly be facing budget gaps.

Because they have casinos. Lots of them.

Wisconsin, in fact, as about a bazillion casinos, mostly small, with a Statewide total of 14,000 'gaming machines'. No need for any economic stimulation there.

New York is also awash in casinos - including Indian casinos - with 15,000 'gaming machines' and a legal gambling age (except for the Seneca casinos) of 18. How can they be hurting?

And New Jersey? You have to be kidding me! They sold a whole city to the dark side just to collect 'gaming' revenue from it - and now they're saying they can't balance a budget?? With 43,000 slot machines?? Not to mention the fact that they just lifted a smoking ban to bring in more gamblers!

So what are these governors trying to imply with this conference call - that 'gaming' and casinos and slot machines aren't bringing home the bacon and frying it up in a pan?

It can't be! Why just last year, at the State House casino hearings - that's all I heard for hours on end - what big fat lucrative economic saviours these 'gaming machines' are.

So, maybe someone could explain to me how New York, New Jersey and Wisconsin now find themselves in a hole they can't plug up with a wad of those magic gambling greenbacks which supposedly fall like manna from heaven whenever you plug in a slot machine, legalize gambling and use the revenue to shore up a State budget.

Anyone? Anyone?


Anonymous said...

You're kidding me?
You mean casino gambling and slot machines won't save us?
There are gonna be some pretty disappointed campers out there, like Senator 'But For' Pacheco, Mr. Carney, Mr. Flynn, and on and on.
Casino gambling and slot machines are supposed to rain gold coins from heaven, well after taking it from those who can't afford it.
And you had to tell us this so early in the New Year?
[sob, sob!]

carverchick said...

I can explain it, Gladys.....the casinos in all these States gave out rose colored glasses and fooled every Tom, Dick and Harry that the slots would save them from economic distress.

Casinos are an economic engine that create tons and tons of job, eliminate property taxes because they fuel the local economy and fill State coffers....oh wait a minute....

let me put on my fecal vision glasses....

ahhh....better. What a bunch of Bull!!!!

I hope our own Governor, who happens to "get it - it's entertainment" will open his rose colored eyes and see casinos for what they are.....a grande illusion.

Jacquie said...

Just what all these states need, cuts in healthcare and education
- so we can have a bunch of sick, dim whits spending all of their money at casinos.

Wish I could sit in in that conference call...Jeez-

Fiferstone said...

Even that bastion of gambling gold, Las Vegas, is no longer the golden child it once was, that is, if you believe the LA times article reprinted in today's globe:

Keep dreaming if you want, oh casino supporters, I for one prefer to keep my eyes (and my options) open.

Anonymous said...

What I found curious is that amidst the lay offs at casinos around the country, with casino expansions being cancelled, with new casino construction being cancelled, with loan payment defaults because the casinos aren't producing the income and of course, the financial problems at Twin Rivers which is owned by the investors involved with the Mboro proposed casino, supporters continue to follow the grail as if it still exists.
They continue their personal attacks as if it still means something, ignoring the facts.
Your presentation of the facts is always appreciated.

Anonymous said...

Business rhetoric is always carefully worded and sometimes coded but Herb Strather's comments seem to indicate he's tired of funding the folly.
Local investors?
Weren't they expecting the money to flow in the opposite direction?

Nocasino said...

Interesting comment ----"You have a political resistance to opening up a casino," said Peter Cohan, who runs an investment strategy consulting firm and teaches courses on the subject at Babson College. "One way to (overcome the resistance) is to enrich powerful local leaders "¦ who then have an incentive to push for that casino to open and overcome some of the local opposition."

Now who could that be???? hmmm
interesting blog on Coffee Shop Talk that could lead us down that road.

Anonymous said...

My brother lives in NJ - and as he puts it, "According to what they said
when gambling was first legalized,
we should have the lowest taxes, the
best schools and libraries and the
happiest, healthiest elderly in the
country ...."

NJ just went through their own property tax cap legislation and
they're trying to sell off the turnpike to private interests.

We're all in the same sinking boat,
and those casinos ain't gonna plug the leaks. Much less lift the tide.

Smoking Owl said...

Let's break this down to our own little slice of heaven here in Middleboro. If all those states with multiple casinos can't even balance their budgets with all the riches promised from hosting the casinos, what chance does the Middleboro BOS have in balancing our town budget?

Maybe those states already know what the BOS will discover. The impacts of hosting a casino in your/our community outweigh the mitigation money the casino throws at you. The BOS will begin to spend beyond their means with the promise of this cash cow. Once they realize their still operating the town with a deficit, it will be too late.

Casinos are all about giving you the illusion that you're going to come out ahead. But in reality the house always wins. Middleboro will NEVER come out ahead. At best we'll break even or come out losers. The Tribe already thinks we're losers, that's why they would rather ruin our town and not their own town of Mashpee.