Ping!
More lies exposed.
Just thinking out loud here.
State Sen. Leland Yee, a member of a legislative committee that oversees the lottery, said Schwarzenegger has oversold its value and that lawmakers must carefully consider whether privatization is worth the social cost.
“You have to be honest about the number and have to be careful about how you get that money,” said Yee, D-Daly City. “The increased revenue is predicated on maximizing the lottery. Unfortunately that maximization is on the backs of poor people and working poor people who need to save their money for their children, rather than toss it away on buying lottery tickets.”
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Leland should have been a comic,, he cracks me up.. He is one weird duck and he is from San Fran to boot..
Tom predicts Schwarzenegger will go forward with his attempt to sell (30-40 year lease) the state lottery to a consortium headed by Goldman Sachs. He estimates it would generate a front-end payment of $14 billion, a portion of which would be put in trust to go to schools (to generate the same amount it earns for schools now--$1 billion), with the remainder going to "paper over" the deficit and "allow him [Schwarzenegger] to get out of town." Goldman Sachs would then keep all revenue for the length of the lease. He described Schwarzenegger's logic as follows:In the same interview, he predicted the deficit through the end of next fiscal year 2008-09 to be $18-$20 Billion. He's got a good crystal ball.The lottery is underperforming ("never mind that the entire lottery commission are his [Schwarzenegger's] handpicked appointees"); they are incompetent to run the lottery; it is under-producing by about $1 billion per year. If we give it to GS for the next 40 years, they they will pay $14 billion and the state can cover the deficit.Tom said the point is: The schools are being shortchanged because it isn't making enough. We should be making $2 billion. Instead of managing it competently and giving $2 billion to the schools, Schwarzenegger's solution is that we're going to lock them into being shortchanged for the next 40 years, and Goldman Sachs gets to keep the difference.
*estimated annuitized payout to a single winner - odds of winning 1 in 136 gazillion cubed.
Just raising the value of that endorsement of McVain amongst liberals and independents, huh?
more lottery terminals coming to a liquor store near you. Oh, wait!! They are ALREADY in every liquor store in CA. Maybe they will let WalMart sell them to increase revenues. Oh, Wait!! The unions won’t let WalMart make even a nickel from the lottery so we’ll have to put them....hmmmm.....where else can we put lottery ticket machines.....hey, how about the welfare offices and public school lunchrooms????? Yeah, that ought to increase lottery ticket sales enough to help pay for that socialized health care scheme!
“Leasing the lottery would require approval from the Legislature and a majority of the voters.”
Here’s a novel idea! Why not vote to get rid of the Lottery rather than rehash the same old arguments we had from the beginning? We need a proposition as well to cancel out the voter approved proposition of 2004 sidelining necessary dollars for unecessary after school nonsense.
We need to say “Live and Learn”, and fix the problems as well we need to rattle cages to STOP SPENDING MONEY WE DON’T, AND WON’T HAVE WITHOUT BORROWING WHAT WE CANNOT PAY BACK.