Tuesday, October 31, 2006

Indianapolis has some serious problems

Indy tax dollars is an interesting blog that is run by a concerned citizen of Indianapolis.

You really need to read his most recent post:

It is IMPOSSIBLE for me to believe how stupid Indianapolis has been on their Stadium. They built the RCA Dome 22 years ago for 77 Million dollars. They kept re-financing the bonds over and over and they still owe 75 million dollars of principal on this building.

The taxpayers of Indianapolis are going to be paying on 75 million dollars of bonds for a stadium that has been demolished...

Then they are going to have a second much larger set of bonds to pay off as well...

Fiscal insanity...

Another reason to vote Libertarian... Democrats and Republicans have forgotten how to be fiscally responsible...

Mike Sylvester
Fort Wayne Libertarian


Jeff Pruitt said...

Well the same thing is about to happen here. Many of us knew it was a blatant lie that the Baseball Plus commission was looking at a downtown stadium 10 years from now. The truth came out on the front page of the JG today. They want that stadium built by 2008!

Of course they say they want to do it with limited public funds -whatever that means. There is absolutely NO WAY they can build that stadium w/ private funds. Stadiums are a losing proposition - if they weren't then investors would be lining up around the country to build new ones instead of asking the government to do it.

Also, anyone that thinks this will "spur" downtown development is living in fantasy land...

Bobett said...

Jeff and Mike, both of you are
right on the dime.

I agree, this is outright welfare. Will Fort Wayne every learn? As if the public will get something back from footing the money to buid a new minor league baseball stadium downtown. Where's the fortune we made for the one that exists.

Maybe Fort Wayne should look at
how unsuccessful South Bend was
with their taxpayer funded baseball stadium. They went broke. And the list goes on of this type of spending across anytown, USA.

It's not a good idea.