Tuesday, July 31, 2007

Spend Money, Wait For Gambling Losses

The new fiscal planning for states who depend on expanded gambling revenues involves spending gamblers' projected losses first and then filling in the hole later when they actually lose their money.

A report that should be instructive to Kentucky's expanded gambling hucksters informs us that plan isn't working so well in Florida where insufficient gambling losses have blown an $80 million hole in school funding.