It would be nearly impossible to make the folly of government economic development more obvious than two recent announcements in the Washington, D.C., area.
On Dec. 13, Virginia Gov. Glenn Youngkin announced a $2 billion arena project in suburban Alexandria, Virginia, that would be the new home for the NHL’s Washington Capitals and NBA’s Washington Wizards of the NBA, who now play in Capital One Arena in downtown Washington.
To placate pro-transit city officials in Alexandria, the project calls for just 2,500 parking spaces and would be built near the recently opened Potomac Yard rail station.
The following day, the Washington Metropolitan Area Transit Authority held a public meeting to discuss its latest budget proposal.
Facing a deficit of $750 million, WMATA officials outlined plans to increase fares, reduce the frequency of trains and buses, close…
