Yes, I was shocked too when I read the headlines on USA Today on Monday, November 23rd: "Ventures a Drain on states, localities; for government run businesses, $3.5 B loss." No way. You mean government run businesses are a drain? Yes way! The article began--
"Government owned businesses that generate revenue for states and cities have taken a sharp turn downward and now are draining money from many struggling governments. . ."
Why does that not surprise me? Sure there are some fine people who really try to keep these entities in the black, but overall--there is no incentive in a government owned business to spend money wisely. They can always apply for a bailout, ask for a tax increase, or ask politicians for pork from other parts of the country.
When are we going to learn?
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