The Boston Herald reports Massachusetts, New York, and Minnesota are looking into selling their state lotteries and other assets to help clean up their fiscal situations.
Kentucky can possibly try to borrow money to get through the current downturn and hope for the best, but the more solid strategy for Kentucky taxpayers would be getting state and local government out of a lot of businesses.
Now that Sen. Mitch McConnell is starting to respond to calls to halt the bailouts, Kentucky needs to move quickly to get its house in order. Remember, even if we get a bailout our state budget is still structurally unsound. And unless President Obama plans on giving us $33.4 billion, we still have our public employee benefits mess heading our way like a freight train.
Monday, December 29, 2008
What's prevailing wage for posting sale signs?
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Nonsense. Selling state lotteries or other assets isn't going to clean up fiscal situations. What's needed is an end to self-destructive social policies such as incarcerating non-violent marijuana users.
An article, from “In These Times,” Sep 25, 2008, entitled: “20 Million Arrests, and Counting,” can be read at: http://www.inthesetimes.com/article/3918/twenty_million_arrests_and_counting/
The article reported: “Since the early ’90s, the total number of Americans busted annually for pot has nearly tripled… By 2006 (the last year for which data is available), a record 830,000 people were arrested. (Of those arrested, an estimated 90 percent are charged with minor possession — not trafficking, cultivation or sale.)”
“That’s one American arrested for pot every 38 seconds.”
“Some Americans serve time for pot. Nearly 13 percent of state inmates and 12.4 percent of federal inmates are incarcerated for marijuana-related drug violations, according to a 2006 Bureau of Justice Statistics report. (The report did not include the estimated percentage of inmates incarcerated in county jails for pot-related offenses.)”
“In fiscal terms, this means U.S. taxpayers are spending more than $1 billion annually to imprison pot offenders.”
Kentucky spends $270 million a year incarcerating non-violent marijuana users. And Kentucky politicians act like they don’t know why there’s a budget problem.
What does Governor Steve Beshear want to do? He wants to put additional taxes on a far more dangerous legal drug, tobacco, to pay for Kentucky’s failed war on drugs policy, or more correctly, it’s failed war on hemp policy.
“If just one-fourth of Kentucky’s 90 agricultural counties went into industrial hemp business, approximately 17,348 jobs would be created and $396 million in worker earnings generated year.” From “the study, ‘Economic Impact of Industrial Hemp in Kentucky,’" by Dr. Eric C. Thompson, Dr. Mark C. Berger, and Steven N. Allen of the University of Kentucky’s Carol Martin Gatton College of Business and Economics, July 1998.
Legalizing hemp is the solution to Kentucky’s budgetary crisis. Kentucky politicians need to follow the advice of Alexander Hamilton in his 1791 report to Congress on manufactures. He wrote of hemp: “This is an article of importance enough to warrant the employment of extraordinary means in its favor.”
What extraordinary means are Kentucky politicians doing in hemp’s favor?
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