Spitzer pushes plan to lease lottery

[WNYresident]

Emphasizes benefits for expanded UB

By Jay Rey and Tom Precious
Updated: 02/14/08 7:14 AM

Gov. Eliot L. Spitzer stopped in Buffalo on Wednesday to rally allies for his controversial proposal to lease the state’s lottery system to establish a $4 billion endowment that would help fund the state’s public higher education system.
Spitzer wants to use the endowment to build the State University of New York into a premier system — hire more faculty, reinvest in campuses and grow the University at Buffalo and Stony Brook University into campuses with national reputations.
“We must stand up and persuade the leadership in Albany that this is the right thing to do,” Spitzer said.
While the governor was on friendly turf, speaking to the local university community Wednesday at UB, his plan faces a fight back in Albany.
His proposal calls for selling future lottery proceeds to a Wall Street equity company. A contracting company then would run lottery games and be able to increase lottery revenues.
While the state believes it can get at least $25 billion up front, critics — Democrats and Republicans alike — have lined up.

Full Story in the Buffalo News

[leftWNYbecauseofBS]

Emphasizes benefits for expanded UB

Well if the Bills leave, he could pour money in UB football so they would be able to join the Big East or something like that.

I would rather have a big time program near me v an NFL team any day.

[Riven37]

Why Don't Spitzy Sell The State Of Ny Why He's At It. I'm Sure He Can Get At Least 2 Billion For It. He Is Such A Butthead !!!

[Sylvan]

Why Don't Spitzy Sell The State Of Ny Why He's At It. I'm Sure He Can Get At Least 2 Billion For It. He Is Such A Butthead !!!

I think there is something wrong with your Shift Key.

[Riven37]

I think there is something wrong with your Shift Key.

Key ? Sssshift Keyyyyy ? why it doesn't stick at all.......

[anyones neighbor]

<>Gov. Eliot L. Spitzer stopped in Buffalo on Wednesday to rally allies for his controversial proposal to lease the state’s lottery system to establish a $4 billion endowment that would help fund the state’s public higher education system.<>
I thought that was why NY started the lottery in the first place, education. Wonder where it's going? Never mind, I think I know!

[WNYresident]

Officially he's an idiot. That 4 Billion would be wasted away before you new it. All the connected politicians would have thier fingers on it. Then the lottery would be useless because it wouldn't be the tax payers lottery anymore.

Lenny Lenihan endorse this man didn't he?

Next endorsement from the local dem party should be laughed at.

[winfield31]

Officially he's an idiot. That 4 Billion would be wasted away before you new it. All the connected politicians would have thier fingers on it. Then the lottery would be useless because it wouldn't be the tax payers lottery anymore.

Lenny Lenihan endorse this man didn't he?

Next endorsement from the local dem party should be laughed at.

While the state believes it can get at least $25 billion up front, critics — Democrats and Republicans alike — have lined up. ***** Are we surprized that BOTH Dems & Repubs have lined up on the same side of the fence on this one ? THEY will be winning the lottery , their piece of the action , right off the bat.......... I heard that Spitzer "back-doored" this policy change/idea from day one of deciding to run . It was a "don't worry , the people will love this" & you'll (fellow politicians) be "taken care of" ! The arrogance is what amazes us I think ? I mean they used to at least "wine & dine" you before they you know what they did to us , now they go straight for the jugular , no after thought , no caring , it's like they're planning us to be their "Soylent Green" in a way............Rez is right about our local Dem endorsements , but not laughed at , but cried about , look at both parties , Spitzer playing Edward G. Robinson's "Little Ceasar" , & the Repubs playing hide & seek & no one wants to seek ! NYS is in disarray & will get worse before better , I hope it improves in our lifetimes , but this News article on Spitzer sure does not give you any short term allay of our fears*****

[WNYresident]

They are going to make sure thier pensions, thier friends pensions and "government" supplied salaries/health care is covered for themselves..

How does this guy sleep at night.

[gorja]

Originally posted by anyones neighbor:
<> Gov. Eliot L. Spitzer stopped in Buffalo on Wednesday to rally allies for his controversial proposal to lease the state’s lottery system to establish a $4 billion endowment that would help fund the state’s public higher education system.<>
I thought that was why NY started the lottery in the first place, education. Wonder where it's going? Never mind, I think I know!

You are correct, the lottery is suppose to be supporting education.

Taken from the NY lottery site:
Now in its 40th anniversary year, the New York Lottery has generated more than $31 billion to help support education in New York State, including a record $2.3 billion in fiscal year 2006-2007 on incoming revenue of $7.18 billion.

If the state gets the 25 billion, you know they'll blow that money in a heartbeat. Then, what moneys will be there to support the education system the next 39 years.

$2.3 billion X 40 = $92 billion-assuming that $2.3 billion would have been generated on an average annual. In all likelihood that would be lowballing it.

The money that we will be losing for education is astronomical.
That ba*tard is insane. First he couldn't get the concept of the meaning of "ILLEGAL" and now he's selling out our education system. Either our children, grandchildren and great grandchildren will be getting an education in the like of a third world country or our yearly school taxes will out of the reach of most homeowners.

[anyones neighbor]

<<<<<>>>>>>>>the New York Lottery has generated more than $31 billion to help support education in New York State<<<<<<<<<>>>>>>>
BULLWICKEY!!!!!!!
I should have been a politician.
1. Don't have to be smart.
2. Get rich quick!
3. Able to get someone's attention in a single bound!
4. Someone else can pay for my vacations!
5. There's always a crowd wherever I'd go.
6. My foot can be in my mouth and no one will notice!
7. Kiss a baby and I've won the family!
8. Promise anything anyone wants, don't do it, and they still love me!
9. Security follows me wherever I go.
10. They still talk about me when I'm gone!
What more could anyone want??????????

[cookie]

At this rate, I fully expect to see a STATE red/green budget.

[WNYresident]

Remember who endorsed this character. Lenny Lennihan and crew.

How many times will you be sold out by the same "endorser" before you realize they are only in it for themselves.

[concernedwnyer]

HEY HEY TODAY IS A BIG ONE!!!!

179 MILLION DOLLARS! that is 179 Million dollars!!!

I will buy all registered users on SpeakupWNY one ice cream cup if I win!

Think about it this way. You are supporting NY state. Home of of the proud.

I get all edgy when it gets this high.... The dreams.... The hope... The disappointment........

One dollar and a dream..... New York Lottery......

[concernedwnyer]

Why Don't Spitzy Sell The State Of Ny Why He's At It. I'm Sure He Can Get At Least 2 Billion For It. He Is Such A Butthead !!!

There ya go.. Sell NY to Dubai! They coudl use the state as a storage facility...

Friends and family plan is healthy and growing. My memebrship card is in processing.. I heard that it is difficult to get in though... You need to have that special connection.