The level of economic ignorance in America astounds and saddens me.
This morning and advocate for a local project told a TV reporter that, “The cost won’t be as high because we’ve got some federal money.”
Wrong. Wrong. Absolutely wrong.
The fact you obtained funds doesn’t change the cost of your project. The price-tag remains the same. What you mean is that you’ve managed to force people who will never benefit from your project to foot part of the bill.
It seems people believe “federal money” spontaneously appears out of thin air. I guess you can’t blame them. In a sense, money the feds don’t take from you does. But eventually somebody pays. If not you or I, our children – either through direct taxation or inflation.
Federal funding isn’t free money.