Congress likes to spend money. But sometimes they also think, “Wait, do we have any money?” And then they come up with an idea to make themselves a cool $20 or so, and then they get back to spending lots of money. We are witness to one such idea right now. Though they banned it just four years ago, the House Financial Services Committee let a bill go forward yesterday that would legalize online poker and other betting that is not on sports so that it can be taxed. And now, because of this vice, our children will be saved from debt forever.
Banks and credit unions like this! Casinos and Indian tribes don’t! Surprising!
Representative Barney Frank, the Massachusetts Democrat who leads the Financial Services Committee, has been the legislation’s champion.
“Some adults will spend their money foolishly, but it is not the purpose of the federal government to prevent them legally from doing it,” Mr. Frank said.
It is just supposed to rescue them after they do it.
The committee’s top Republican, Representative Spencer Bachus of Alabama, noting the passage of far-reaching changes in financial regulation this month, said that “after all the talk last year about shutting down casinos on Wall Street,” he was incredulous that members would vote to “open casinos in every home and every bedroom and every dorm room, and on every iPhone, every BlackBerry, every laptop.”
Just talking about it is fun. A casino in your bathroom! A casino in your furnace! A casino in your ass!
But why does Bacchus oppose this? For thousands of years, he has supported wine-drinking and merry-making and carnivals and pleasure. This is the issue for which he decides to throw away his legacy? Sounds like our favorite Roman god is in the pocket of the big casinos.
Oh, and about that “paying down the deficit” thing?
Representative Brad Sherman, Democrat of California, said in an interview that the money was an attractive source of financing for other programs. “We will not pass an Internet gaming bill,” Mr. Sherman predicted. “We will pass a bill to do something very important, funded by Internet gaming.”
Haha, yeah, it’s not going to go towards paying down the deficit. It’s going to be used to pay for part of something new on which Congress wants to spend money. Perhaps on giving all Americans 100 free chips? Hmm? HMMMMMM? [NYT]