Wanna Bet?

As the economy tanks and stock market takes back the last ten years' gains, politicians are working feverishly to try to figure a way to partly cover the expenditures of funds they don't have. Here in our state, being an odd-numbered year, our legislature is in session - always a scary proposition.

Resurfacing again this year, with increasing shrillness in the name of "we've got to do something", is a proposal to allow gambling casinos in the Lone Star State. The argument cites money going out of state to Oklahoma (Choctaw Bingo and Winstar Casino) and Bossier City/Shreveport, LA. Two decades ago, the argument would've included New Mexico (Ruidoso) and the subject would've been horse racing.

Well, in the past two decades, we've reclaimed, I'm sure, a great exodus of funds by voting in parimutuel betting and a state lottery. And, as a result, our state coffers are just brimming over.

Or not.

Apparently, it's not been the great financial salvation as was promised. Horse tracks were built, and many have closed, as they were not as 'stimulating' as expected. You must be as shocked as I was. Thus, now we simply must approve casinos to ensure a balanced budget.

As a small 'l' libertarian, noted in my profile, one might expect me to favor the allowability of gambling. Certainly I believe it's an individual's right to do with his or her earned income as he/she sees fit. But, what prevents me from supporting this notion is that it's a bill of goods when packaged as a solution, even partially, for our budget woes.

I guess I consider it an insult to my intelligence and that of my fellow citizens, for politicians to advance a plan that has a statistically negative return - after all, the house always controls the odds (blackjack card counters notwithstanding). Yes, there will be a gain in jobs, in constructing and staffing the casinos, not to mention the hookers and crystal meth dealers. And the notion that the money stays in the state is only a half-truth, inasmuch as any profits go to whatever gambling company owns the casinos. I hate to, uh, malign an industry, but I'm guessing the managements of the gaming outfits make the CEOs of failed Wall Street firms look like choirboys.

So, anyone want to wager whether Texas gets casinos in the next 4 years?