We Haven't Figured Out They're Lying To Us By Now?

Do people really know what they're voting on? For years, voters have approved projects like sports arenas with the understanding that it won't cost them anything; everything would be financed through issuing bonds. Here's the problem: if the city or state can't pay on the bonds, they've figured out how to stick the taxpayers with the bill. Yes, when a city faces default on, say, a stadium bond, they can and do turn to taxpayers to cover the cost, which can run into spectacular numbers. You should keep this in mind the next time they come to you to build an arena and tell you that it won't cost you a thing. (New York Times)

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