By Taxpayers Association of Oregon
The always insightful Oregon Economic Analysis Office recently made a small notation that the decline in Oregon lottery sales may be attributed, in part, to the decline in Covid aid related benefits.
The fact that Oregonians have been spending around 20% more on lottery than before the pandemic hit, is a sign that some people are flush with cash and gambling it away. See our modified chart from the Economic Analysis Office below.
Other numbers show that nearly 1 in 3 Covid dollars sent to citizens was stashed in savings. This begs the question on the effectiveness of the $1.8 trillion in Covid funds that went directly to taxpayers and families.
That $1.8 trillion is part of a larger $5 trillion in Covid aid package which obviously has now given us near-record high inflation. If the 1970s inflation scenario is repeated, we may have 5-9% annual inflation for a decade as a worst case scenario.
Did politicians create a new generation of gamblers with their stimulus?
Are we going to pay for ten years for what was spent in roughly two years?