Obama's Not Happening in Vegas

President Obama created a little hub-bub in Sin City when he, for the second time, referenced Las Vegas in the context of wasteful and extravagant spending. The first time, the President criticized banks which had just been bailed out for holding extravagant junkets in Vegas. Most recently, Obama spoke of how people needed to make wise and tough decisions when it came to personal finances:

"You don't go buying a boat when you can barely pay your mortgage," Obama said. "You don't blow a bunch of cash on Vegas when you're trying to save for college. You prioritize. You make tough choices."

Not surprisingly, politicians with ties to Nevada and Las Vegas blasted Obama for the comment. What was a little surprising was the rancor from people from his own party. Democratic Senator Harry Reid stated, "The President needs to lay off Las Vegas and stop making it the poster child for where people shouldn't be spending their money. I would much rather tourists and business travelers spend their money in Las Vegas than spend it overseas." Democratic Congresswoman Shelley Berkley said in a statement. "President Obama needs to stop picking on Las Vegas and he needs to let Americans decide for themselves how and where to spend their hard-earned vacation dollars."

Their criticism is misguided. President Obama isn't blasting Vegas a poor choice for a vacation, as Reid and Berkley specifically state. His point is that given the choice between saving for a college education and going to Vegas, he thinks people should stress education over leisure. His previous example of choosing to pay for the mortgage over buying a boat is a similar nod towards focusing dollars towards "necessities" as opposed to "luxuries" - a ethos that would our country desperately needs. I salute him for that.

Reid and Berkley might be a little sensitive that Obama said "Las Vegas" as opposed to "taking a cruise" or "going to DisneyWorld", and I can understand that. But the reality is that a large number of people (including the President apparently) don't see leisure-value in blowing $500 at a craps table - or at least there's something a little more discomforting around that as opposed to taking a five day camping trip in Yosemite, which also could be a poor investment if one is truly unable to pay the mortgage or afford college because of that purchase.

In any case, President Obama is rightly preaching good stewardship here. I'm just waiting to hear how furious the boat manufacturers are.