There is hardly a better example of what a Barack Obama economy can do for a major US city than Atlantic City.
Once the jewel of the East Coast, Atlantic City is in death throes, in what has been described as “its worst year.”
As Fox Business put it,
Few people are more eager to see the clock strike midnight on Dec. 31 than Atlantic City casino executives and the thousands of workers who still have jobs there.
Four of the resort’s 12 casinos shut down during 2014 (and a fifth narrowly escaped with a last-minute financing deal just before Christmas), 8,000 workers lost their jobs and casino revenue continued its eight-year plunge.
It’s not all Obama’s fault, as Liberalism is partially to blame. Unions and bureaucrats, compounded by an economy where only visitors from the Far East have the expendable income to gamble.
Let’s see, Atlantic City or Las Vegas? Neither, let’s just go to Macau!
How bad are things when gambling won’t pay your bills! Gambling revenue was supposed to be a guaranteed bonanza! All you need are players.
But it’s not just Atlantic City suffering, as state governments have been gambling by way of the lotteries, and most still are uncomfortably in the red.
Thankfully for Liberals, they still have hard-working Conservative rubes to pay the bills. Happy New Year, lazy Leftists! Another year to fleece Conservatives is off and running.