Sorry I missed this in the newspaper the other day. Remember the 5,800,000 HUD loan for the Gardner Hammond Kilby project that the City of Worcester guaranteed, although there was no borrowers, but the City of Worcester was having to pay?
It looks like Congressman McGovern has been able to restore a $475,000 earmark for the City of Worcester to make this year's payment. Once again we are simply rewarding bad behavior. Instead of focusing on why we did this or why we can not keep doing this, it will be forgotten about until the next time we are unable to get an earmark. This is simply put another bail out.
If this is an example how monies from the economic stimulus are to be used, we are in big trouble.
Read an Early Excerpt from When to Rob a Bank - In celebration of the 10th anniversary of Freakonomics comes this curated collection from the most readable economics blog in the universe. When Freakonomi...
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