Government Bookies, Ctd

Apr 28 2011 @ 7:39pm

A reader writes:

Though the lottery and other gambling revenues are enticing (and have led many states to expand legal gambling in recent years to shore up their accounts), they are the very definition of a short-term fix. A study by the Rockefeller Institute several years ago [pdf] found that gambling revenue tends to grow more slowly than the expenditures of the programs it is meant to finance. The regressive nature of lotteries does in fact make me squeamish, but the biggest problem with them is that they don't help states work their ways out of long-term fiscal holes.