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January 22, 2008
Perspective
When President Bush called for a $150 billion economic stimulus package on Friday, it got us to thinking about the Atlantic Yards economic stimulus package, a basket of tax breaks and subsidies that some say could be worth up to $2 billion to Bruce Ratner.
If $150 billion is really enough to re-start the economy and ease the pain for the entire country, then the $2 billion handout for Ratner could go a long way if it were redeployed to New York City residents who actually need it.
On the other hand, if the $2 billion in subsidies being handed over to Ratner is only expected to create 375 new permanent jobs, a $150 billion national package is highly unlikely to be sufficient to stave off a painful recession.
Put another way, either the American people aren't getting enough — or Bruce Ratner is getting too much.
Posted by eric at January 22, 2008 7:09 AM