Monday, January 2, 2012

The Powerball Ticket is going up to $2.00 on 1/15/12

According to the U.S. Census Bureau data released Tuesday September 13th, 2011,
the nation's poverty rate was at its highest level since 1993
rose to 15.1% (46.2 million) in 2010,[2]
up from 14.3% (approximately 43.6 million) in 2009.
In 2008, 13.2% (39.8 million) Americans lived in relative poverty.[3]

Number Of U.S. Children Living In Poverty Increased By 1 Million Last Year | More than one in five children in the U.S. lives in poverty, according to 2010 Census data, rising from 14.7 million children in 2009 to 15.7 million in 2010. According to Census figures, the child poverty rate increased in 27 states. At 38.2 percent, African American children had the highest rates of poverty, while white and Asian children were below the national average. The rate for Hispanic children was 32.3 percent. “Children who live in poverty, especially young children, are more likely than their peers to have cognitive and behavioral difficulties, to complete fewer years of education, and, as they grow up, to experience more years of unemployment,” the Census said.

And then there is this.....

Knowing that our economy has tanked
Knowing that there is more poverty in the United States.
Knowing that we have more unemployment in the United States

Guess what – the price of a powerball ticket is going up to $2.00 for each ticket
The price goes up on January 15th for the drawing that is held on January 18th.

It will now cost two dollars to buy a Powerball ticket about the same amount as a ½ gallon of milk in Minnesota.

BUT – you’re odds of winning will supposedly going up.
Instead of a one in 192 MILLION chance
It’s projected at one in 172 MILLION chance

Why did they decide to do this?
Well based on info in articles it’s because people will play more if there are better odds to win.
30 – 40 percent of people in certain states already buy a $2 ticket with the Powerplay so all will be willing to pay $2.00

I used to buy a ticket maybe once a month – probably won’t anymore.
Taking two dollars out of your pocket on a chance is a lot harder psychologically than throwing down a lone one dollar bill or four quarters.

And this story made me smile in a very sad type of way
At the Navarro Pharmacy in Miami's Little Havana area, retired nursing home worker Maria Fernandez, 67, said playing the Powerball every week has given her hope. Fernandez, who lives off a small pension, said she can't afford more than the $5 a week she now spends so will have to play less.

"Poor people will not have as many chances to win," she said

And the states may get screwed if fewer people buy tickets
Less money to government – the Tea Partiers must be wetting themselves.
The Lottery reached a milestone when it transferred its $2 billionth dollar to the state of Minnesota! Over $1.2 billion has gone to the General Fund for important programs such as public safety, transportation and education.
Oh welll...................another reason for Republicans to cut more programs.
Happy New Year. 

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