Monday, April 13, 2020

Tribal Casino Shutdowns Cost tribes $4.4 Billion So Far. Diversification was Weak?

Alternate Headline, Tribes Losses total 4 times the losses suffered by Native Americans Disenrolled by them.  Over 1 billion has been stolen in per capita and benefits from disenrolled.  And that's from just over 11,000 people. So Per Capita, it's a lot different.

From Meistter Economic Consulting

economists at Meister Economic Consulting have estimated the following two-week impacts on the U.S. economy while tribal casinos have been closed:
  • $4.4 billion in lost economic activity;
  • 728,000 people out of work;
  • $969 million in lost wages; and
  • $631 million in lost taxes and revenue sharing received by federal, state, and local governments.

This includes the direct effect at tribal casinos, as well as the secondary effects on tribal governments, vendors, employees, and federal, state, and local governments.

 Hopefully, tribes have set aside funds that will help cover them through this Chinese Corona Virus...
 re estimated as follows:

1 comment:

Reinstatement_Restitution said...

There should be funds reserved for disasters. It would irresponsible to ignore the need for contingencies that interrupt business. Tribal leaders are all responsible, right?

We heard it from AS-IA Washburn, tribes are sovereign and the federal government can't interfere with self determination. We may disagree with their decisions, but must accept their right to make them, for better or for worse.

So are bail out funds interference with self determination? And is it a violation of the right to equal treatment to let tribes make harmful decisions against members, then support fiscal mismanagement?

There should be some hard questions asked now.