“When a man spends his own money to buy something for himself, he is very careful about how much he spends and how he spends it…when a man spends someone else’s money on someone else, he doesn’t care how much he spends or what he spends it on. And that’s government for you.” Milton Friedman (1912 – 2006), famed American economist and recipient of the Nobel Prize in Economics.
The aftershocks emanating from the financial crisis of 2008 are still being felt around the globe. The private sector adjusted fairly quickly to the reality of what some have dubbed the ‘new normal’. However, the transition for governments has been much slower, often lacking any urgency to ratchet back spending for items that taxpayers would classify as ‘wants’, rather than ‘needs’. This brings me to the central question of this blog: should $17.5 million of taxpayers’ money be given to the YMCA to attract them to Abbotsford? To be clear, the YMCA is a great organization with a long and… Continue Reading