Gambling on Gambling

Some of Michigan's legislators are looking into selling the state lottery to a private concern. The theory here is that the money would be put into an endowment which would earn more money in interest than the lottery brings in. Sounds good on paper, but the devil may be in the details.

Like so many of the laws that are enacted, there are usually unintended consequences. This idea certainly needs to be explored thoroughly before any votes are taken. And the wording needs to be looked at "six ways from Sunday" to make sure that all the consequences are intended.

This may fall into the same category as the states that have been looking at selling their toll roads. Sure, the initial windfall looks good - but inflation will eventually take its toll (no pun intended).

Or maybe we should just sell the Mackinac Bridge instead.

More information is available here and I'll post more as I find it.