Slot Machines - News

Headlines About Slot Machines

Analyst Calls Slot Machine Numbers Over Inflated

Legislative Analyst Elizabeth Hill says that Governor Arnold Schwarzenegger’s new budget has one small problem – he has over inflated the amount of slot machine revenue that the state can realistically count on. She says that he is basing it on the slot machine compacts that are currently sitting in the state legislature, and since those have not been signed yet, the numbers just aren’t realistic.

She says that not only are his slot machine revenue numbers about $300 million too high, but the way he has structured the budget they could end up losing a $2.1 reserve that is projected for the budget – which would make it difficult for the state to handle deficits in the future. She said his new budget had an “unusually high” number of potential problems. She thinks that the amount of budget savings added to the new slot machine revenue projections will ultimately not work out for the administration and will leave them with a huge deficit.

Schwarzenegger announced a $143.4 billion budget last week saying that the operating deficit had been wiped out, and wanted modest spending increases while cutting welfare and public transit significantly. She says that even if all of his numbers were true, it still would not eliminate the budget deficit – he would need the slot machines to be functioning immediately and at their top form by July 1^st. These are expectations that just cannot be met.

Back to January Index - Slot Machines Fan

Slot Machines

Slot Machine News

Slot Machines - Books