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From GoLocalProv by Lisa Blais, GoLocalProv MINDSETTER™:
Rhode Island has seen its fair share of financial boondoggles. The lesson learned from our track record is that “public/private partnerships” means when the free market believes it’s a bad financial deal then the answer is to let taxpayers assume the risk and foot the bill when it doesn’t work out. 38 Studios is just one, obvious example. We also witnessed it with the proposed wind projects in the East Bay Energy Consortium legislation. We will bear witness to it in the very near future when we, as utility payers, incur the higher than market costs to support the “Deep Water Wind” project off Block Island. Don’t be fooled by the Pollyanna cliché, “public/private partnerships”. If an investment is not financially viable, it shouldn’t be subsidized by RI taxpayers.
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