“Tis true about the almighty Bush. That being said the following things are also true:
1) The United States economy is in a downward spiral. Its been all over the news that subprime mortages (including GMAC) are having trouble due to foreclosures on Americans that (a) are losing there jobs; and (b) are getting flooded with foreclosures. This has caused the Construction Industry nationwide to drop like a rock. No loans; no construction. Just check the stock market – from Asia to Europe, all are getting skiddish about the U.S. Stock Market due to its drop in stocks because of what is happening specifically in mortgages and a wimpy 1% retail sales increase.
2) One of the infamous 11 states that prevents online gambling is Michigan. An article yesterday forecasts Michigan’s unemployment rate for 2007 to be 7.4% and for 2008 to be 7.8%. Also, yesterday, Manpower, the nation’s largest temporary worker service, announced they had a TOTAL of eleven (count ’em, – 11) jobs available in the largest county in Michigan. My guess is at this point, many U.S. Governors would welcome a new revenue stream – now – today; not tomorrow.
3) I believe Barney Frank is a realist. The bill should never have been secretly passed with no debate to begin with and hopefully they could yank it for that reason alone. If I see whats going on in the economy, he certainly is no idiot and does as well. The nation’s Governors are screaming for revenue (most of which is going for the war in Iraq).
Will something be done? We shall see. However, all the chess pieces are in place for one hell of a “checkmate.”