By Jay Polk
From the article: “This one involves Gov. Scott Walker of Wisconsin, who’s running on his tough-as-nails budget-cutting credentials. Come tomorrow, Walker will commit no less than $400 million of taxpayer money to a stadium deal to keep the NBA Bucks in Milwaukee:
The state would put $250 million toward the arena, with interest adding up over decades. The subsidy, approved last month with bipartisan support in Wisconsin’s Republican-controlled legislature, wasn’t addressed in the first presidential debate Thursday. That might change in future forums—or attack ads.
That’s bad enough, of course. But what makes the situation even worse is that Walker is actually trying to sell it as something other [than] politically motivated corporate welfare of the basest sort:
Walker, 47, argues that the subsidy is a “good deal,” partly because Wisconsin would lose revenue if the Bucks leave, as they had threatened. The owners of the Bucks, a team whose value Forbes pegged at $600 million, will pick up half the cost of the $500 million arena.
You got that? A business worth $600 million doesn’t have the cash or the credit to build its own…palace (despite covering just half of costs, the Bucks will get virtually all revenue generated by venue forever and ever amen).”
And so it goes that Republicans are just as bad as Democrats on wasting your hard-earned money. Why do fiscal conservatives support Republicans again?