Killing New Jersey to Save Atlantic City Gambling

In what he calls a "bold and risky" move, New Jersey Governor Chris Christie is proposing that the state take over the Atlantic City casino district and turn the seedy gambling town into a "family resort" along the lines of Las Vegas. Christie also plans to privatize the Meadowlands horse-racing track and Izod sports center, and float a bond issue to save the nearby Xanadu mega-mall.

The move to turn Atlantic City into "Las Vegas East" is apparently based upon a McKinsey & Co. report issued in June, on "Revitalizing Atlantic City." The McKinsey report notes that gambling accounts for 5% of the state's tax revenues, and that Atlantic City's gross gambling receipts fell by $1.1 billion from 2006 to 2009. According to McKinsey, Atlantic City needs to target demographic groups ranging from "young entertainment seekers" to "recreation-seeking," "gaming," and "wealthier boomers," to "family vacationers" and "recreation and scenery seekers."

Underneath the slick marketing campaign aimed at presenting this as a way to save jobs and increase tax revenue, is a move to have New Jersey taxpayers bail out one of Dope, Inc.'s premier U.S. money-laundering facilities. The idea of turning Atlantic City into a "family resort" is patently absurd, and Las Vegas has already abandoned the concept in favor of a return to the more traditional gambling and hookers. "What happens in Vegas, stays in Vegas," is the new theme. Especially your money.

Once again, American citizens are being sacrificed by their own government to bail out the parasitic Brutish Empire. This move to save the gambling business is nothing but a component of the financial bailout. It's time for Glass-Steagall!