Saturday, May 30, 2020

Corona Files: Unintended Consequences

State and local governments face massive budget shortfalls related to the multi-varied impacts of the shutdown of economies across the country. California has estimated a $54b hole in its budget related to COVID-19. Maryland says it'll be down $2.8b. In all Financial Times estimates that states may see as much as a $500b shortfall.

This will have massive consequences for the places we live, from reductions in services to increased taxes, to larger class sizes. There are, however, at least two silver linings, if you're a certain kind of degenerate.

States that need money can't tax their way out of the hole, at least not entirely. My friends, I have two words to share with you this fine day: Legalize It.

States were already moving to make sports betting and other forms of gambling more legal in the wake of the Supreme Court's 2018 backing of New Jersey's position in Murphy v. National Collegiate Athletic Association, which effectively struck down the 1992 Professional and Amateur Sports Protection Act and allowed states to choose to legalize gambling on sports. Eighteen states have already legalized sports gambling, and every state other than Wisconsin and Idaho has advanced legislation.

At the same time, 11 states and the District of Columbia have fully legalized marijuana.

We'll keep our analysis short and sweet, because we're a little bit tipsy. Legally. The economic impacts of the coronavirus pandemic will erode political resistance to legalized gambling and weed, slowly, then all at once. States won't have a choice.

I look forward to toking with y'all while we place bets at OBFT XVIII. Whole. New. Ballgame.

17 comments:

TR said...

I like the idea, but I assume it is contingent on the country not being a burning pile of riot debris by then.

Mark said...

Even though I’m medically legal here in Florida I’m still looking forward to full legalization. Having to renew my license and see the doc every 9 months is kind of a pain in the ass. A pain in the ass I’m happy to have but still, a pain.

Mark said...

Beaches and roads are absolutely packed around here today. Weather is perfect and there’s a historic launch set for this afternoon. Not much concern for social distancing amongst the general population.

Danimal said...

We are heading to one of our local bridges to see the launch. Pretty cool video on demand telling the story of SpaceX and the lead up to today. Really good.
I'm nervous as hell about it, I have a bad feeling if I am being honest.

rob said...

former jmu football coach mickey matthews, gtb enthusiast:

https://www.richmond.com/sports/former-jmu-coach-mickey-matthews-its-time-to-bring-back-the-old-caa/article_111ad156-00ac-54fe-a705-3e9807fba78a.html

Dave said...

i'm enjoying the low stakes online poker scene in jersey-- it's a good way to pass the corona-virus time . . .

Whitney said...

Dave, always stick when you’re dealt a 6 and 9. Good things happen.

Marls said...

Always bet on black.

TR said...

Ian and I (and families) got in a beach day today. We went to a place near where I am staying. There is a little place on the beach where you can get drinks. We socially distanced and waited in line to order. We heard the female bartender working say something about a “Dirty Shirley.” Ian and I started cracking up, thinking about our friend w/ that surname and what would be in that drink. We debated ordering one out of principle. We finally had the chance to order and asked what that drink was. Bartender said it was a Shirley Temple with a shot of vodka.

And that, my friends, was a let-down.

rootsminer said...

Just keep Ian away from the four loko. Trust me on this one.

zman said...

'Tis the rare perfect spring day here in NJ. About 75 degrees, warm sun, no clouds, no humidity, gentle breeze. And my kids won't put down their iPads.

rob said...

it's glorious here, as well. i've spent most of the afternoon outside. finally.

rootsminer said...

It’s a similarly beautiful day here in western va. We had a family meeting here to discuss summer goals and responsibilities with our boys. It was going well, but my wife and oldest both have the ability to get under each other’s skin, so it all went to shit at the end. I went for a ride. I don’t need that kind of drama.

TR said...

We had an enjoyable pool/beach day down here. One beach by us serves drinks all day. Dogs are allowed on the beach after 5. We enjoyed the late day sun, the warm water, some tunes and some bevvies from 5-7. And our dog was a wet, sandy mess who couldn’t get enough of the surf. Hard to have fun w/ a clear mind amid everything going on, but we kept away from news and enjoyed things. Glad you all did too.

rob said...

i mean, i was outside at a protest march, but it was still glorious weather.

Squeaky said...

Best show I remember from the Boathouse was double bill of Primus and Fishbone. That place got some great acts over the years when at WM.

Mark said...

Military personnel on the streets of cities all over America. I’m speechless.