Phoenix Coyotes Deal with Glendale Raises Concern

Arizona Republic:  “When the Glendale City Council gave the green light to a $197 million Phoenix Coyotes deal in December, it seemed the team’s future in the Valley was secured.  More than a month later, Glendale has not yet completed the deal.  Meanwhile, the Goldwater Institute is weighing whether to sue, scrutinizing the hockey agreement to see if it unconstitutionally relies on taxpayer funds to subsidize private enterprise.”

The Benefits Storm – Average Pay & Benefits for New York City Trash Collector $144,000

City Journal:  “If money could melt snow, Mayor Bloomberg would be basking in victory over the storm. When he took office in 2002, Gotham spent $1.3 billion annually on the Department of Sanitation. Today, the city spends more than $2.2 billion on “New York’s Strongest. . . . Taxpayers now spend $144,000 on salary and benefits for each sanitation worker, up from $79,000 nearly a decade ago. Nine years ago, taxpayers contributed about $10.5 million annually to support sanitation pensions; this year, they’ll cost $240 million—a more than twentyfold increase”

Detroit Public Schools: 40,000 Kids to Get Laptops from Stimulus Funds

Detroit Free Press:  “Detroit Public Schools will spend $49 million in federal money to push technology in the district, including distributing 40,000 new laptop computers to students in grades 6-12 for use in class, as well as more than 5,000 new desktop computers.”  Meanwhile “DPS to lay off 88 school bus attendants who help special needs kids.”

See “Detroit porkulus dump: $49 million for laptops” and “DPS says teacher tried to pawn laptop.”  Michelle Malkin says:

“These technology infusions have turned out to be gesture-driven boondoggles and political payoffs that squander precious educational resources — and with little, if any, measurable academic benefits.”

2010 Top 10 Government Spending Charts

The Heritage Foundation lists its top ten most viewed charts of 2010 that show federal government spending and taxes.  The charts are:

10. Recent Spending Hikes Are Not Limited to Temporary Emergencies

9. Federal Revenues by Source

8. Federal Government Revenues Have More Than Tripled Since 1965

7. Entitlements Will Consume All Tax Revenues by 2052

6. Taxes per Household Have Risen Dramatically

5. Obama’s Budget Would Create Unprecedented Deficits

4. National Debt Set to Skyrocket

3. Federal Spending Is Growing Faster Than Federal Revenue

2. Federal Spending per Household Is Skyrocketing

1. The Top 10 Percent of Income Earners Paid 71 Percent of Federal Income Tax

111th Congress Added More Debt Than First 100 Congresses Combined: $10,429 Per Person in U.S.  “The federal government has accumulated more new debt–$3.22 trillion ($3,220,103,625,307.29)—during the tenure of the 111th Congress than it did during the first 100 Congresses combined, according to official debt figures published by the U.S. Treasury. That equals $10,429.64 in new debt for each and every one of the 308,745,538 people counted in the United States”

People Who Like to Spend Money Goverment Doesn’t Have on Economic Money Pits Now Wasting Money to Determine if Light Rail Should Expand to South Phoenix

Arizona Republic: “Valley rail planners are asking a million-dollar question: Would south Phoenix residents ride a light-rail line enough to justify building one?  Valley Metro, the agency that built and runs the 20-mile starter light-rail line, is weeks away from picking a consultant to provide the answer.  Armed with a $400,000 congressional earmark and $100,000 from the city of Phoenix, Metro expects to hire a consultant by March and spend 18 months figuring out if spending many millions of dollars on a rail line in south Phoenix makes sense.”

The twenty mile long Phoenix – Tempe – Mesa light rail cost over $1 billion dollars to build.   The story inconveniently fails to mention the cost to build light rail in south Phoenix or the amount of the annual multi-billion dollar subsidy Phoenix would incur if the light rail were extended into south Phoenix.   When will people stop spending money our governments do not have?

Half a million dollars to do a study!  Earmark money!  I’ll save the city money and do the study for only $250,000.  Here’s a free summary of my findings – don’t do it because rail is a perpetual black hole money loser for government.  Phoenix and the federal government are bankrupt and don’t have the money to build or maintain rail.  Rail might make sense if it could make a profit, not when it loses money every time it accepts a passenger.  Read “Government-Run Rail System Losing $32 per Passenger, Study Shows.”

It is a fact that no nationwide passenger rail system anywhere in the world is considered profitable when all costs — including capital — are accounted for,” . . . “Amtrak released a study in April to demonstrate that Europe’s system is heavily subsidized. Germany’s high-speed rail network, the most expensive in Europe, required average annual subsidies of $11.6 billion during the 10-year span that ended in 2006, according to the Amtrak study.”

See “Money train: The cost of high-speed rail.”

Glendale’s Elected Idiots Vote to Give $197 Million Glendale Doesn’t Have to a Dude so He Can Buy the Coyotes NHL Hockey Team for $170 Million – No Joke!

Arizona Republic:  “the Glendale City Council approved a $197 million deal to keep the financially struggling Phoenix Coyotes at the city’s arena. . . . The agreement also requires Glendale to wire $100 million to Hulsizer quickly, perhaps in the next few weeks, which would help him purchase the team from the NHL for $170 million. The Glendale council approved taking out a loan”

Five members of the Glendale city council apparently never heard the saying “don’t throw good money after bad.”  After investing $300 million to build the palace where the Coyotes play hockey and  to give other economic benefits to the Coyotes owners, the city council voted to throw more good money away and bring the city’s total investment in the ever deepening money pit to the half billion dollar mark.  Only in government does money grow on trees.  Why didn’t Glendale buy the team for $170 million and save $27 million?

See “Phoenix Coyotes deal faces opposition from group.”

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