Quote:
Originally Posted by Pablo
Your points make sense, but don't the last couple of sentences just describe building a stadium for your sports team perfectly?
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For sure, but they’re selling it as something riskless with no consequences to anyone but the people financing it (that is, those buying the STAR bonds). And that’s not reality.
If these bonds were this amazing financing proposition, why wouldn’t Missouri or literally everywhere else be replicating the offer? Because it’s not as riskless and costless as the politicians - who probably don’t know or don’t care - purport it to be.
Counterfactual: some politicians in Jackson County come and say, “Voters, we can build this stadium for the Chiefs. You’ll risk nothing and lose no revenue. Would you vote ‘yes’ to that?” Of course they would. But it’s not accurate.