POV | Casino gambling could ease pension problems - WDRB 41 Louisville News

POV | Casino gambling could ease pension problems

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Sometimes, your back has to be completely up against the wall before you'll finally stop ignoring a problem and fix it. And this is one of those times for the Commonwealth of Kentucky.

Failures by cowardly legislators in previous years to set aside adequate amounts to meet our state pension plan's ever-growing obligations have placed us in a hole so deep, virtually any fix put in place now - whether tax increases or benefit cuts -- will cause significant pain from Ashland to Paducah.

But that doesn't have to mean we're doomed. Because there's still plenty of new money the state could raise quickly - and with no pain involved -- if we'd just legalize casino gambling.

Many of our rural lawmakers have consistently stymied past efforts to tap this rich source of revenue, but can they really afford to cling to such a short-sighted position anymore? 

Kentucky gamblers are already flooding across our borders daily to hand hundreds of millions of dollars to our neighbors in places like Indiana and Ohio, and keeping those dollars here -- specifically earmarked for our pension fund -- could make all the difference.

At this point, ignoring the potential benefits of legalized gambling for the sake of moralistic posturing is like a drowning man refusing a life preserver because it clashes with his tie. Kentucky's fiscal survival is at stake here and all options need to be on the table.

I'm Bill Lamb and that's my Point of View.

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