Paterson is looking everywhere to close the budget gap except where he should be. Gambling? Do we really need more gambling? Have you ever had to stand in line at your local Wilson Farms store waiting for the one and only cashier to finish with a Lotto customer? Usually it is someone with a bunch of different numbers to play and each one for a different day and drawing. It’s very aggravating. But you know “a dollar and a dream” or “Hey, you never know”. those stupid ad words just to sell more lotto tickets.
The lottery system was supposed to save the local taxpayers money in their school budgets but we know that has not come to pass as promised. Sure the Lotto officials say we have put Billions into the education system. They may have but for every dollar they have put in, Albany has taken out and dumped into the General Fund. So once again, dollar for dollar we are getting the shaft.
Typical corrupt Albany thinking and legislation…. How else can we screw the taxpayers of New York.
Paterson looks to gambling to close budget gap
Gov. David Paterson is seeking a major expansion of gambling in New York, proposing to let the state enter more multi-state lotteries and increase the hours of operation for Quick Draw games and video-lottery parlors.
In his 2009-10 budget proposal, Paterson would let the state Lottery Division seek inclusion in other multi-state lotteries, possibly the 29-state Powerball game and even international lotteries, state officials said. New York participates in the 12-state Mega Millions lottery.
Paterson would also let the state Lottery more aggressively invest the $1.3 billion lottery fund used to pay jackpot winners. Currently, the state Lottery invests in conservative U.S. Treasury notes, which have historically garnered about 4 percent in interest a year.
But lottery officials, particularly when the economy improves, believe that they can get better returns by hiring a private investment firm to manage the money. Read more–>