David Yepsen writes in his column today (a Krusty Must Read BTW) that the Lottery Scam is a done deal, and its just a matter of time before the deal is done. He points out that Iowa would be giving up 2.8 billion dollars in future revenues to receive $200 million now, and 22% of the adjusted gross profits, the same rate Iowa casinos pay.
This is outrageous.
Yepsen correctly states the following:
Take $200 million from a lottery sale, add some creative accounting by not obeying the state budgetary laws, and stir in several hundred million from Uncle Sam's coming bailout to the states and - Voila! - Iowa's budget shortfall evaporates. Culver and his pals can safely get re-elected in 2010.
This isn’t about doing what’s right for Iowa, its about slapping a band-aide on a problem in order to make sure the big lug and his lug nuts get reelected in 2010.
Oh, so now all of a sudden we like Yeppers?
ReplyDeleteKrusty didnt say he liked Yepsen..merely that for once..he's correct in his assesment.
ReplyDeleteChet and company are worried about the short term rather than than our state's long term financial health.
We're heading down a very serious path here..a path that we're going to be paying dearly for with higher taxes and the like..we need to be on our game NOW.
chet so mad at you and yepsen he come out of blog retirement to be mad on internet.
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