Casinos, Corruption, and Incompetence True Culprits

For Immediate Release

MIAMI/EWORLDWIRE/Oct. 26, 2012 --- In its newest report issued by The Counter Media, data collected in its White Paper on national casino proliferation shows that President Barack Obama is not responsible for the stubborn unemployment rate.

The Center For Public Integrity (CFPI), CBS News, Fox News, CNN reports, and the Bureau For Labor Statistics (BLS) show that casinos, political corruption, and incompetent state and local politicians are the true culprits:

- Las Vegas has the highest unemployment rate in the country and Detroit the lowest housing price at $7,500 while leading the country in violent crime.
- Michigan rates an "F" for its high level of public corruption by the CFPI. Michigan taxpayers have been the victims of rampant political corruption for decades which directly led to the auto industry bailouts. Detroit alone has doled out over a quarter of a billion dollars just to settle corruption lawsuits.
- Out of desperation, Las Vegas Mayor Carolyn Goodman has proposed legalizing prostitution, marijuana, and porn movies to revive the city's dismal economy.

Statistics show:

- Casinos create 4,600 jobs per billion dollars spent, while construction projects and small businesses create 42,000 and 29,000 jobs respectively. Casinos are also shown to cost 7-10 times more taxpayer dollars than they contribute due to excessive crime, prostitution, bankruptcies, and retail business failures, mainly due to the casino revenues immediately being shipped out of the state to Vegas and other cities.
- There is currently a feeding frenzy in states such as Maryland, Massachusetts, and the Canadian city of Toronto to install massive casino projects. The proliferation of casinos outside of Las Vegas and Atlantic City has led to each city being unable to lower its unemployment rate or improve its economy.
- Detroit and Michigan have been devastated by casinos, with blight and violent crime exploding, and falling property values that now have the average price of a house at $7,500.

A CBS news report (CITATION NEEDED) indicates that taxpayers are facing a huge bailout of the casino industry larger than the auto rescue package. The process has already began in Atlantic City.

Wall Street analysts (CITATION NEEDED) have stated that they expect two of the major casino companies including MGM to file for bankruptcy any day now due to their crushing $33 billion debt.

Incompetent politicians are the third element that have caused and sustained the high unemployment rate. FOX news has detailed how billions of taxpayer dollars were lost by politicians in various revenue schemes.

- Former Boston Red Sox pitcher Curt Schillings loss of over $100 million in Rhode Island taxpayer money is a prime example.
- Michigan's last two governors have cost the state 290,000 jobs in the past two years, first by being fleeced for nearly $400 million from Hollywood and a loss of over $3 billion in infrastructure revenue in one project.
- Similarly, Las Vegas loses $2 billion,120,000 jobs, and over 4 million additional visitors annually due to its leadership's arrogance and archaic approach to current day tourism.

For more information, contact Jerome Almon of The Counter Media at 305 725 2271.

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CONTACT:
Jerome Almon
The Counter Media
149 Circle
Miami, FL 33105
PHONE. 305 725 2271
EMAIL: info@thecountermedia.com
http://www.thecountermedia.com

KEYWORDS: economy, recession, election, economics, casinos, Las Vegas, Miami, NYC, Detroit, London, Berlin, Obama, MGM, casinos, Massachusetts, Maryland, Toronto, Michigan, Hollywood, politics, politician

SOURCE: The Counter Media