Here is a clip from my appearance on Stossel.
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Friday, March 19th, 2010,
by JC and is filed under "Media ".
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I caught your segment on re-play on Saturday night. You represented Kennesaw State (and all of us blog followers) well.
I think it is a great career connection. Stossel will probably be back in touch and he has a significant following and generates some of the best (in the sense of genuinely thoughtful) programming in TV news.
The line about the “seen and the unseen” is way too simplistic to be taken seriously. For starters, out economy is not a zero sum game. Building a stadium does not have to preclude other projects, especially if innovative financing partnerships are formed. Furthermore, even if it was a case of shifting assets, one place would still be benefitting at the expense of another. For example, if the Yankees decided to build a new Stadium in New Jersey, the Bronx would lose out (and I am sure they would be consoled by knowing NJ was picking up the slack). Finally, not all stadium deals are the same. It’s one thing to raise taxes and another thing facilitate tax free financing. In the case of the new Yankee Stadium, the Yankees funded a large majority of the construction, but the city helped them finance it with tax breaks (to the team and investors in the bonds). If the alternative was to not build at all, there would be no tax gains anyway, so it becomes a matter of retaining commerce and encouraging further development by other enterprises.
Personally, I’d rather have the government give money to private institutions than simply spend it themselves. Even if a $500mn subsidy to build a stadium only yields minimal economic activity, at least it’s not being wasted by the government. It would be great if the real alternative was drastically reduced tax rates, but that’s not going to happen until the electorate finally wakes up.
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