That’s the headline on this AP story on North Carolina’s mad corporate give-aways. The state has handed out $120 million in just the first eight months of 2006, far outpacing the previous high of $94 million in subsidies in 2004. As we’ve noted before, it is now possible to justify absolutely anything by saying the words “economic development.”
These handouts are like crack or meth or pick your scary drug of the moment. It is impossible just to do a little because there is always someone hanging around who wants you to do more. If you have no self-control — i.e., you are a politician — you are bound to OD sooner or later.
North Carolina is now in the crack-whore stage of economic development addiction. It ain’t pretty and you can tell it ain’t gonna end well.
