Graph of the Day for July 5, 2010

"For the last few years, California stood more or less unchallenged as a symbol of the fiscal collapse of states during the recession. Now Illinois has shouldered to the fore, as its dysfunctional political class refuses to pay the state's bills and refuses to take the painful steps - cuts and tax increases - to close a deficit of at least $12 billion, equal to nearly half the state's budget."  The New York Times, July 2, 2010.

Before/After Illinois Banned Smoking in Casinos

Source:  St. Louis Fed.

Hoven's Index for July 5, 2010

Changes (in one year) in Illinois casinos due to the smoking ban:

Revenue:  down $400 million (20%)

Attendance:  down 12%

Casino tax revenue to the state government:  down $196 million

Casino tax revenue to local governments:  down $12 million

Source:  St. Louis Fed.

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