From the Your Tax Dollars Hard At Work Files comes yet another example of bad accounting when it comes to the government - especially the New York State government.
The New York Racing Association announced this week it’s closer to emerging from bankruptcy. NYRA holds the state’s franchise to run thoroughbred racing at Aqueduct, Belmont and Saratoga. The group said a federal judge approved its amended plan to pay back creditors. Just how will they pay the creditors back? Through a $150 million dollar state bailout! That’s right folks, the horse gambling industry in New York State was having money problems, so the New York State government decided to kick in $150 million dollars of taxpayers money to bail out an organization that encourages those with gambling addictions.
Did they have nothing better to do with the money? Hey, lets not forget this is the same state government that doesn’t even know how to balance a budget. When will the madness stop? When will someone step up and question such stupid spending. Of course this announcement comes at the same time New York State government is pondering suspending the gas tax in order to bring the price of gas down. But, some in this same government that so freely hands out money to help bail out a gambling organization are worried that suspending the fuel tax could create a hole in state finances.
I’ve got news for those in Albany, suspending the gas tax is the least of your worries when it comes to creating holes in your spending plan.
Just my two cents,
Dr. Rus
