Time for a Different Tack?

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Published : May 02nd, 2011
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Category : Crisis Watch

 

 

 

 

Authorities have tried endless monetary accommodation, multiple bailouts, a range of ill-conceived stimulus programs, and regular bouts of cheerleading, but so far at least, a great many Americans are not enjoying the fruits of the "recovery" that Washington and Wall Street keep talking about.


But tough times call for creative solutions. Maybe it's time for those in charge to take a different tack, and adopt a strategy that at least one locale is using to try and improve matters. Perhaps Washington should follow the example detailed by the Associated Press in "Atlantic City Looks to Bus More Homeless Back Home," and ship those who are less fortunate somewhere else?


Larry Bogan knows precisely how much it costs for a bus ticket from Atlantic City back home to Pompano Beach, Fla.: $126. Unfortunately, that's $126 more than he has at present.


And so instead of cooking in a restaurant or driving a tractor trailer for someone like he used to do, Bogan eats at a soup kitchen and sleeps on park benches or in a train or bus station each night. He's one of about 500 homeless people living in the nation's second-largest gambling market.


Reducing Atlantic City's homeless population is a key element of a new effort to help the struggling casino resort get back on its feet after more than four years of plunging revenues, lost market share and layoffs. A state agency plans to allocate just under $100,000 to a local homeless shelter to buy bus or plane tickets back home for any homeless person who wants to leave.


The Travelers Assistance Program, operated by the privately run shelter, has been around for years, but would be greatly expanded from its current limited form with the additional funding.


If the travel program is the carrot, there's also a stick being brandished: the prospect of stepped-up sweeps of the entire Boardwalk to move homeless squatters along.


Michael J. Panzner
Editor,
Financialarmageddon.com

 

 

 

 

 

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Michael J. Panzner is a 25-year veteran of the global stock, bond, and currency markets and the author of Financial Armageddon: Protecting Your Future from Four Impending Catastrophes, published by Kaplan Publishing.
WebsiteSubscribe to his services
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