Risky Business

Obama: Marijuana Legalization Not Good For The Economy

By Matthew Bandyk

Posted: March 26, 2009

The legislative battle to legalize pot in California has gained so much attention that President Obama can no longer ignore it. In an online town hall meeting Obama rejected the argument that legalizing, regulating, and taxing marijuana would be a good way to raise money in this recession (See my previous post explaining that argument.)

And what was Obama's reasoning? Well, there wasn't any. He just stated in direct terms he does not think legalizing pot "is a good strategy to grow our economy." Read more about the town hall meeting here.

Does that mean he thinks it's not a good strategy because it would not actually grow the economy? Or does he think legalizing pot would have other costs that would subsume any economic benefits, thus making it not a good strategy? We don't know, but they are questions to ponder.

Legalize!

I'm glad I found this post..

I highly support the legalization of marijuana, even if we don't tax it I still think we should just be allowed to grow/smoke it. The benefits are huge, if we could start up hemp production again we could solve so many problems. If we also stopped this anti-marijuana campaign we'd save so much money that could be used for other things.

Jay.P @ Feb 09, 2010 18:41:21 PM

Concerned

From the point of view of a pot smoker in a state where it is not recognized for medical use, I must state that the amount of negative attention it gets is ridiculous. I doubt Obama even knows that durin this country's centennial celebration it was brought as a gift from the prime minster of Turkey. President Grant partook and the country did not fall into a drug haze. This country needs to stop spending money to label marijuana an evil plant and a destroyer of minds, because many famous, important, and influential people throughout history have smoked it. The amount of money we would recover by stopping the smear campaigns is significant. The amount that could be made from taking it would be overwhelming, and could better be put to use stopping the heroin, Meth, and cocain problems our country REALLY needs to worry about. Now i know what most people who read this will think, "Oh its some stoner who just wants to get is pot fix". But before you judge ask yourself this question, when has anyone under the influence of JUST marijuana ever been involved in a major crime? The only arrests made against marijuana users are for possesion or sale. There has never, and i would say will never, be a violent pot smoker who smokes a joint and goes home and beats his wife and kids. There will never be someone under the influence of JUST marijuana who kidnaps, rapes or murders en masse. Are we also to ban tobacco because of the amount of violent offenders that smoke them? The rest of the country needs to take a lesson from California. Legalize.

Brendan of MA @ Feb 05, 2010 10:52:44 AM

Max

Joe of OR: "Some food for thought

A local state trooper once told me, that in Oregon, it won't ever be legalized for one main reason; They don't have a test for it."

I think that is very weak argument, and here's why:

1 - Police can administer a behavioral test similar to the one given to the drunks (standing on one leg..etc) but carefully designed to fit the state of mind of people under the influence of cannabis.

2 - They can collect body samples and when the results come in a few days later, they can place the charge. (although this would only work on somebody who is very stoned and being a danger on the road).

3 - Biomedical companies can design a small portable meter that can give instant results on urine content (similar to the one they have for blood sugar level that diabetics use). Who knows, this device might already exist.

Face it, the real reason you trooper friend seems against legalizing cannabis is because he thinks he'll have nobody to arrest and jail anymore.

Max of IL @ Feb 02, 2010 00:26:00 AM

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Risky Business

Risky Business

Matt Bandyk, a reporter for U.S. News, explores capitalism from where it all begins, with the entrepreneur, whose risk taking and experimentation provide the roots from which the rest of the economy grows. As much courage as it takes to create one's own business, even the entrepreneur needs some help, and this blog will look at news, trends, and practical advice for starting and running a small business.

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