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Thanks to COVID-19, cities and states will experience a budget gap of $975 billion over the next two years. Meanwhile, the devastation of the entertainment and tourism industries denies many of these governments the tax revenue they use to finance local sports stadiums.
Obviously it’s hard to predict a pandemic, but this situation illustrates why public investments in private business are a bad idea.
Comments
Like you stated, who can predict a pandemic. The last one was 1918.