Basing the budget on slots a bad bet

July 24, 2008

I agree completely with Sterling C. Crockett's statement that slots amount to a "false hope" for the state ("Wealth driving 'No' vote on slots," July 20). The projections for profits from slots are a false hope.

In today's economy, with higher gasoline prices and higher inflation, people have less disposable income.

Less disposable income will translate into less profit for the gaming industry and less slots revenue for the state to use to balance the budget.

One could argue that times will change and slots revenues will increase as the economy improves, and that therefore the state should approve slots now so that we are ready to reap the benefits when the economy strengthens.

But what I am hearing from the State House is that if we, the citizens of Maryland, do not approve slots, we will face a huge budget deficit.

My fear is that we will face such a deficit regardless of our decision on slots because of the lackluster economy and our reliance on slots as the savior of the state budget.

Then we will be forced to make deeper cuts to balance the budget.

Slots are not the answer - something else is.

But that something else will require strong leadership and the courage to make tough decisions.

Rick Wade

Lutherville

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