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“Welcome to the American dream,” said Mr. Burns in a 2008 episode of The Simpsons. “A billionaire using public funds to construct a private playground for the rich and the powerful!” It turns out the American dream, according to C. Montgomery Burns, is also the Canadian dream for the Ottawa Senators, who are lobbying the provincial and federal governments for taxpayer funds to help pay for a new arena.

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Taxpayer funding for NHL arenas is nothing new; it’s been going on for decades. The main economic argument against this funding is the standard, well-established argument against corporate welfare in general — any worthwhile economic activity does not need subsidies and economic........

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