When will we ever learn? Read this headline:
Voters reject spending limits, OK Ohio casinos
CHICAGO (Reuters) - Voters in the states of Maine and Washington on Tuesday rejected measures to limit spending, while Ohio's ailing economy swayed residents to approve casino gambling.
Since you are smarter than me, you may have only needed to reread that once.
Here is a little more about the measures:
Ohio voters, after turning down casinos in previous elections, changed their minds as the state struggles with sinking revenue due to the economic recession. The measure, which passed with nearly 53 percent of the vote, allows casinos in Cincinnati, Cleveland, Columbus and Toledo.
After rejecting casino propositions 4 times in the last 19 years, Ohio voters, so weary from economic boom times, so tired of saving and investing their money reaped from decades of 100% full employment at wages 15x the national average, decide to allow casinos in four cities.... Ok, maybe I misread that last part, but...
Just listen to this response from friendly neighbor Kentucky. Do you smell some kind of gambling arms race? When will it stop?:
Local legislators say approval of casinos in Ohio will make the issue more urgent in Kentucky during the 2010 legislative session.
“I’m glad for Ohio and sorry for Kentucky,” said Rep. Carl Rollins, D-Midway. “We should have done it first. This just puts us further in the hole.”
Sen. Julian Carroll, D-Frankfort, said he “detests gaming as a source of revenue,” but it’s the only option besides raising taxes.
Are spending cuts an option?? It's common sense that state and federal revenues decline when the economy contracts, but why can't we continue the logic and design matching amounts of shrinkage to coincide with these declines? Why do tax hikes and casino building come about instead? Can we really just keep taking the easy road?
To quote Ned D, a commenter on the original story from the Marketplace Scratch Pad:
Gambling has the same effect on a local economy as taxes. It draws money away from productive businesses. The de-capitalization of local businesses reduces innovation, while producing nothing of added value, once the honeymoon period is over.
The job creation brought about by casino construction and subsequent staffing would be significant (34,000 jobs, bringing $200 million in licensing fees and generating an estimated $651 million annually in revenue for Ohio and its local governments and school districts. ) The revitalization of blighted areas would also come about....
Is it sustainable? Don't get me wrong, casinos can be viewed as entertainment, expensive entertainment, but aren't they just swapping a boring drain on a community (tax) with one that is seductive and addictive (gambling losses)?
Census
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