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Where's the government wasting your hard earned tax -- dollars this time.
Your taxpayer dollars subsidizing.
Rural airports I have little to no traffic.
My next guest says these airports which are meant to bring new economic activity just end up bringing more debt.
Should the government be involved in the first place joining me now -- a -- at senior fellow at the Manhattan institute and home of the book take a look at that shake down the continuing conspiracy against the American taxpayer.
So why not why the government involved.
In developing airports.
Well of course the good.
The -- government approves -- and runs the whole system the federal government.
And essentially local governments -- -- counties and cities.
They they create airports in conjunction with the FAA but the thing is that what's happening around the country is that what I call -- -- the if you build it.
They will common fallacy.
Member of -- that movie yes it that was a fantasy pick -- but not reality people don't seem to understand -- -- what happens is you have around the country.
You have -- airports in growing regions like Dallas Fort Worth and Atlanta where because the regions are growing their priests are busy they're investing in our airports so in.
Wanna -- around a lot of development -- -- Right exactly but what happens is that it ended in that in other places around the country they look at this and they say wow they're spending money on the airport in their regions growing.
If you spend money -- our airport I guess how regional -- No quick answer you have all these examples.
But you a couple of yeah.
-- let's start with that mid America Saint Louis outside of -- mid America is actually in that world Illinois is meant to be kind of off floater to say is Saint Louis on the one hand.
And Chicago on the other hand.
Government -- county airport yeah.
County facilities from 300 million dollars in this airport.
They subsidize three different airlines to come in do business there all three of them basically gave up with the business they don't have any flights out of there.
And they don't have any flight 908 now accepts occasional charter flights.
The via this -- -- to twelve B twelve years -- county government has have been spent and invested some like 150 million dollars after they build it.
In an operating costs and losses and you know and it's just like -- -- Bad money good money after bad -- -- -- up at -- thought about northwest beach there that's sort of my FA RX yeah panhandle what happen yes the -- Florida -- have a local -- and very group rural area local residents called a redneck Riviera.
And that basically -- -- what down there are AM have a big development company said.
If we told an airport can hear -- chance this saint Joe's exactly people will come.
And and it initial develop the region so the government.
Saint Joe's and local county authority put about -- -- million dollars and creating an airport.
The airport opened -- just as the -- that it's slash national housing bust was hitting.
Complete you know again nothing has happened since then saint -- was taken over by dissident shareholders -- basically said the company was wasting money.
On this and other -- meanwhile however you've got this airport which basically is doing very little business radio style it's not correct.
It's not generating a new economy down there instead it's something that is being subsidized by taxpayers.
At a -- up their call the essential air services program the cost about 200 million dollars annually.
How well is that -- and it keeping rural airports alive hello this is.
The other thing you know we had airline deregulation in 1978 the idea was a government was gonna spend some money seven million dollars on a 133 airports that -- rural airports.
You want to keep them going for ten years with subsidies so they could get their own kinda floating.
And the idea was that we want to keep these rural communities.
In the -- air transportation system was -- -- after ten years.
Thirty more you know 35 years later.
We're spending 200 million dollars were still keeping these airports open many of these airports have never been able to actually begin on their own footing.
-- in one in one hare airport for a giving an example because you have two or three people.
Per flight the rest of the flight is subsidized to the tune of 3500 dollars per empty seat.
-- the federal government.
That's 200 million dollar adolescent -- money and yours mr.
alliant energy and affording it of course -- Washington this lets you save -- that's ridiculous.
Steve thanks for bringing this I I just I'm sorry I'm still reeling from that last fact yes but -- that there is not a -- didn't you order for a exactly and it's ridiculous thanks so much for coming on -- great CEO good to see you are right -- the --
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