One Armed Ignored

Not on the radar but very important, because 100s of billions of our dollars are at stake.

McCain has done more than any other member of Congress to shape the laws governing America’s casinos, helping to create “423 casinos across the country.” [Story at Salon]

Read this twice:

Gambling is a multi-billion dollar drag on the economy, not the moneymaking boost touted by supporters.

Cash merely changes hands from bettors to casino owners, creating no products or anything else of value.

If the estimated $100 billion now spent annually on gambling went into the marketplace instead, economic models show it would generate more than $300 billion for the nation’s slumping economy.

…also would save hundreds of billions in costs to society stemming from gambling addictions, bankruptcies and crime that studies show increases when casinos open.

[link Science Daily]

More than $300 billion wasted on bandits we can see.