Fiscal 2023 DIF Account

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Canceling Spectator Sports Won’t Cancel Cash-Strapped Taxpayers’ Stadium Debt

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 Good column

 

 

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

Anonymous said…
Once again I personally appreciate you posting an insightful article, but you forgot to highlight the rational noted in the article as to why the City embarked on the stadium, a $130,000,000.00 ribbon cutting !
October 14, 2020 at 5:52 PM
David Z. said…
Bill,

Like you stated, who can predict a pandemic. The last one was 1918.
October 15, 2020 at 6:14 AM
Anonymous said…
It is ironic that 1918 was the last year the Boston Redsox won the World Series before their championship drought. I am surprised that Bill Ballou did not pick that up.
October 16, 2020 at 3:25 AM
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