Sunday, November 21, 2010

Subsidies for Citizenship?

Wealthy investors seek quick path to U.S. residency. Arcane federal program lures foreign investors to put up money for $52 million complex in McHenry County.
I'm not sure yet what I think of this program, but this part really bothers me:
As part of the $52 million deal, the investors would pay off $34million in federal and state bonds that would be issued for the project.
It's a subsidy by taxpayers. And that's wrong. We are already overburdened--and in bankrupt Illinois we are already paying ruinously higher interest rates for bonds we've already issued.

And I'd say this is a valid concern as well: "But their biggest worry is that the sports complex will wind up a failed local eyesore."

...Gee, what's on the next page of the Trib: Northwest suburbs still waiting for lift from O'Hare expansion

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