“Consider the Competing Needs”

In an op-ed published today, the editorial board at the St. Joseph News-Press encourages Missouri’s legislators and leaders in economic development to “consider the competing needs” when deciding whether to continue financially supporting the Tour of Missouri. (Link via Combest).

Taxpayers understand you don’t add to your stock investments when you are struggling to buy food and pay for college tuition. Business owners rarely add a second location, no matter the potential, when times are tough and they have payrolls to meet.

So, too, the state’s legislators and economic-development leaders must choose between funding the cycling competition or fully funding such things as teachers and early-childhood education.

This is an example of the “hard choices” that Sarah Brodsky described earlier on this blog. Before they spend money on any program — be it a cycling competition, a light-rail expansion, or anything else — state and local governments should perform this kind of cost-benefit analysis to determine whether the money can be spent more wisely elsewhere.