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People are going to spend their money however they wish, whenever they wish. Just look at the statistics of college student spending . You'll never curb marketing or media.

The only way is through finance education. Heck, I'd be amused to see someone try to tell people that a "line of credit" doesn't equate to "money in the bank".

Regardless, more money for education is always better than none as long as it doesn't replace current budgets for education. Even that piddly "$425 million". It might be less than 5% of total spent, but it's more than zero. And that's a good thing.

You told us what? That people who opposed the lottery wouldn't magically change their minds overnight? That's pretty lame grounds for gloating.

I agree with darkmoon. $425 million here, $425 million there, pretty soon you're talking about real money.

The lootery is no differen from -- in fact is a handy distillation of -- our entire supposed meritocracy-cum-plutocracy. I recommend economist Robert Frank (not the photographer of the same name). His books include "The Winner-Take-All Society". He co-authored books with Fed Chair Ben Bernanke, too. The upshot: dangle dreams of incredible remuneration, status and luxury before the masses (via ET, BET, MTV, etc.) as promise for reaching the top of one's (usually useless, like entertainment or designing video games) occupation. The society does indeed lather the few and prideful with such riches. But the vast, vast numbers who aspire or idly dream to such heights will, of course, be a drag on the middle levels of basic workers, who will pay higher costs for the health care and lower produtivity of these fallen idols (well, wannabe idols), when they end up in dead-end make-work jobs.

The lootery fuels just these kinds of false hopes. The way to become a millionaire? You could try investing for long-term; saving instead of spending; avoiding credit cards and outrageous interest. It won't happen right away, of course. And with the impending economic crises on America's horizon as the bills come due, with fewer workers to pay for them, it is possible Congress will dip deeply into now-promised tax-free, safe investments.

If you play and win, you may even find it ruins your life instead of improving it. That story isn't uncommon. But that's moot, because almost everyone most certainly loses, and loses, and loses. A sucker's bet. At least P.T. barnum gave 'em some entertaining hooey. The commericals and design of our (or any) lootery ain't the price of admission. Where's the egress?

What the college spending site doesn't show is the amount blown on beer and entertainment. I have students say they can't afford pencils and paper. That doesn't excuse the outrageous textbook prices, though.

Freddy, just the other day you said that all capital was flowing to the top 3% anyway. So why bother with investing, saving, etc.? Live for the day!

Or were you just being dramatically eschatological?