The editorial page of The Daily Tar Heel made an excellent point in its editorial "Cutting Damage" on April 8.
In spite of the state's current $900 million budget shortfall, education and specifically the UNC system need to be protected.
The UNC system is an investment in the future and budget cuts, even in this desperate time, are short-sighted and in the long run a poor choice for North Carolina. However, the DTH offered no alternative as to where the state could find the funds to replace that which it so persuasively argued should not come from the UNC system.
I would like to offer a possible solution to this aspect of the state's budget conundrum. What North Carolina needs is a lottery.
Currently, 37 out of the 50 states plus the District of Columbia have instituted a state lottery and are reaping the benefits. In my home state of Virginia, the lottery netted the state $336.7 million in the last fiscal year out of a total sales of over $1 billion.
Even after all the prizes had been paid out, the operational costs had been covered and the retailers had taken their cut, $336.7 million was turned over to the state.
That does not even take into account the 4 percent tax that the state levies on the over $500 million paid out in winnings last year.
Also keep in mind that, according to the 2000 Census, Virginia has 1 million less people than North Carolina, so one could expect that North Carolina could make even more per year than Virginia does. Reasonably, North Carolina could expect to net about $350 million dollars a year if it established a lottery.
That money would clearly make up a significant amount of North Carolina's budget shortfall. In Virginia, all lottery proceeds are spent on education; much of it dispersed to the various local school districts.