In a recent article in CNN Money, Victor Matheson, associate professor of economics at the College of the Holy Cross, commented on the economic impact of the Powerball lottery, which millions of Americans continue to participate in.
In the last fiscal year, Americans have spent $65.5 billion on lottery tickets, which is a 10% increase from the year before. With 25% of that money going to state governments, allowing states to fund school and construction programs, Matheson contended that such funds are essential to state budgets, and are essential if states are to avoid raising taxes. “It’s difficult to see how you would eliminate that much of state budgets and be able to come up with money elsewhere,” he said.
However, Matheson also noted that state economies would be further bolstered if consumers purchased goods and services instead of lottery tickets. “People spend disposable income on lottery tickets rather than buying a coffee at Starbucks or some gizmo at Best Buy,” he remarked.
This ‘Holy Cross in the News’ item by David Cotrone ’13.
Opening Reception for 'Pulse: New Work by Faculty Artists'See More > 02/02/2015
Holy Cross to Host Panel on Urban Education and AccountabilitySee More > 02/03/2015
First Tuesday Lunch ConcertSee More > 02/09/2015
Video installation by Georgie Friedman: Opening ReceptionSee More >
‘Rinklin alters perceptions in a new show at Zevitas Gallery’
Boston Globe | WBUR (Boston's NPR station)
Cristi Rinklin, associate professor and chair of the visual arts department at the College of the Holy Cross, received a glowing review from the Boston Globe and WBUR for...12/19/14
Kiplinger’s Ranks Holy Cross No. 27 ‘Best Value’ Liberal Arts College
Kiplinger’s Personal Finance magazine has ranked the College of the Holy Cross No. 27 among all liberal arts colleges and No. 45 overall among all colleges in the country...12/17/14
‘Pakistan School Attack: The Symbolism Is Unmistakable’
In his debut piece for WBUR’s Cognoscenti, Mathew Schmalz, associate professor of religious studies at the College of the Holy Cross, writes about the symbolism in the...