The price tag on the new Yankee Stadium, slated to be opened in Spring 2009, is $1.3 Billion and rising. The stadium's construction budget has been significantly bolstered by public funds (AKA residents' hard earned money that they pay the city & state in taxes), and tax breaks (AKA this means an increase in taxes for the working class so the city can re-up to their greedy satisfaction, because after all somebody has to pay).NY's financial assistance to the new stadium includes: A $70 million state subsidy for the stadium's parking facilities, $237 million in tax exemptions, and $260 million to replace public park space due to the fact that several acres of parks were relinquished for stadium grounds.
Today it is being reported that budget over-runs may lead the stadium's builders to seek more use of public funds. [SIDEBAR: That's a lot of nerve; especially during an economic downturn, and a spike in food prices that's leaving many taxpayers scrambling to put food on the table. Amidst these conditions, the fact that New York has dedicated hundreds of millions of dollars to this project is ludicrous. A superfluous sports arena should not be a priority during such dire financial times].
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