Forbes- Milwaukee Bucks' New Arena is a Multimillion Dollar Mistake-Walker cuts $250M from educ

[riversedge]

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Not backing down ‏@Pie_SocialMedia 5h5 hours ago

Wow! Forbes calls @scottwalker arena deal a Multimillion Dollar Mistake! This looks bad for #walker16 #scottwalker! http://onforb.es/1J5kmiG


8/12/2015 @ 8:56PM 6,606 views
Milwaukee Bucks' New Arena is a Multimillion Dollar Mistake
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Wisconsin Gov. Scott Walker has approved a new arena deal for the Milwaukee Bucks despite the state having more pressing needs. AFP PHOTO / MANDEL NGAN (Photo credit should read MANDEL NGAN/AFP/Getty Images)

Though Wisconsin Gov. Scott Walker has already signed a bill that calls for $250 million of taxpayer money to go towards a new arena for the NBA’s Milwaukee Bucks, the reality of the matter is that the team itself should be paying for that kind of luxury.

As was reported by the Milwaukee Journal-Sentinel, the bill calls for taxpayers to cover exactly half the cost of a $500 million arena over the next twenty years and in exchange, the Bucks will not move to Las Vegas, Seattle or any other city in the market for a professional basketball franchise. Noble as the cause may be, particularly since the Bucks have been in Milwaukee since 1968, this deal stinks to high heaven.

First off, more important necessities are being sacrificed for this arena. According to Jordan Weissmann of Slate, citing Valerie Strauss of The Washington Post, Walker cut $250 million from the state’s education budget, and is now asking state taxpayers to pay for half the cost of this proposed arena, with the other half coming from current and past team owners. The $250 million that taxpayers contribute will also go up to $400 million with interest and given how Wisconsin already has a $2.2 billion budget deficit, cutting funding for education and asking the public to finance a new arena is along the same lines of quitting one’s job, then asking friends and family to help pay for a new big-screen TV. It’s a nice thing to have, but a luxury that one can ill afford given certain circumstances...............

[PatrickforO]

1. Republican/capitalist values or is it 'your tax dollars at work'

Sports, after all, is a MUCH better way to spend our tax dollars, because everyone knows kids don't need no ed-um-a-cay-shun.

[LuvNewcastle]

2. The one percent are trying to force

the rest of us into a casino similar to the one on Wall St. We'll need no more education because there will only be two types of people -- those who go on to become sports pros or entertainment stars and those who work at Wal-Mart and other places that don't pay shit. Better hope you're one of the gifted ones, or you're shit out of luck.

Big business used to contribute to education because it was a good investment to have competent people ready to work at their businesses. The fact that they are no longer interested in doing that should scare anyone about what to expect in the future. We'd better fight them now, because if we wait any longer, we'll never be able to have any say in our own destiny.

[trusty elf]

3. Outrageous

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[Sherman A1]

4. Wow!

The deal was always and continues to be a bad one for the people of Wisconsin. That this piece came from Forbes is extremely telling......