Las Vegas Best Not Be Counting On A Bailout

As most cities, states and businesses are waiting with baited breath for thier bailout money one coty that better not be holding it's breath is Las Vegas. I just began studying the American Recovery and Reinvestment Act of 2009, otherwise known as bailout #2, and right away something struck me, in sec. 1109; which states prohibited uses of the money:

"SEC. 1109. PROHIBITED USES.

None of the funds appropriated or otherwise made available in this Act may be used for any casino or other gambling establishment, aquarium, zoo, golf course, or swimming pool."

So, unless Nevada Senator Harry Reid makes some changes when it reaches the senate, it looks like it doesn't matter to Washington if Nevada fails. Which gets me, beacause if Citi Group is too big to fail it would seem to me that an entire state would be as well.

So much for this actually being about helping the economy.

Here's a news article about it.

And, if you feel really jaunty, you can read the bill here in PDF.

Note: I don't think any money should go to casinos; but that's because I don't think this bill should exist at all. If they are going to try and claim this has anything to do with actually helping the economy they should actually help the economy, not just give more money to themselves and their friends.

And here's an interesting chart showing how much money they are printing for this bailout.

Wiemar Republic anyone?

And here's a stilmulous breakdown from Glenn Beck.