Tuesday, December 21, 2004

On publicly-funded stadiums

For the record, I agree with these two editorials on not using public money to build stadiums. This is good, from Linda Robertson's essay:

The D.C. City Council voted 7-6 to tell baseball it is not accepting the financial risks of a ballpark that could cost upwards of $535 million. The owner of the Nationals was not only going to get a free stadium, but all the revenue from it. Whoa, council members said, that's not a boon to the city, that's a boondoggle. Councilwoman Carol Schwartz said she could picture owners ``high-fiving each other until they collapsed from exhaustion.''

All hail Councilwoman Carol Schwartz.

It's not the biggest boondoggling of public funds, but it's a big one. It may be mild compared to some of the other schemes for looting the public treasuries, but that doesn't make it any less wrong.

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