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* From today’s Morning Spin…
But as we tell our college journalism students: Remember, when you buy stock in Apple or put money in a 401(k), that’s investing. When the government “invests,” that’s spending taxpayer money.
I do agree that the word is overused by politicians.
But, when the government spends taxpayer money on mass transit, roads, bridges, education, childcare for kids whose economically struggling parents are working or attending college, healthcare (including disease prevention), etc., etc., etc. that’s just spending money and not an investment in the state’s future? The spending won’t provide any returns at all?
I dunno about that.
posted by Rich Miller
Thursday, Oct 19, 17 @ 9:21 am
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From the wikis:
“To invest is to allocate money (or sometimes another resource, such as time) in the expectation of some benefit in the future, for example, investment on durable good such as real estate for service industry and factory for manufacturing product development, which are two common types for micro-economic output in modern economy.”
Agree the term is overused by advocates, but for very different reasons.
“Invest” implies some direct, personal benefit; people also associate it with some inherent risk.
There are problems for advocates down the road when they promote that kind of selfish thinking.
Good government isn’t about “What’s in it for me” but “What’s in it for us?”
Comment by Free Set of Steak Knives Thursday, Oct 19, 17 @ 9:30 am
That kind of rhetoric found in the Chicago Tribune is why I do not invest in the purchase of a copy or subscription to the Chicago Tribune.
Comment by Joe M Thursday, Oct 19, 17 @ 9:32 am
Devil seems to be in the details, the famous bridge to nowhere was once someone’s investment. I completely understand both sides. Maybe we could say there is good spending vs. bad spending but that again is going to be in the eye of the beholder.
Comment by Ahoy! Thursday, Oct 19, 17 @ 9:35 am
This is largely a worldview issue. For many people to whom the Tribune is preaching, taxation is theft instead of being the cost paid for organizing into a society.
When you equate all taxes to theft, you see no value in spending tax money.
Comment by thunderspirit Thursday, Oct 19, 17 @ 9:37 am
In 2012 when Obama gave the often mocked “You didn’t build that” speech he was talking about government using tax dollars to build roads, infrastructure, educate current and future workers, etc etc — all things successful business rely on.
Comment by We'll See Thursday, Oct 19, 17 @ 9:37 am
I’ve always thought that “investing” when used in this context was clearly a metaphor. Tronc’s churlishness about it makes me think it’s an effective one.
Comment by Arsenal Thursday, Oct 19, 17 @ 9:40 am
And when the Tribune lays you off it is “divesting.”
Comment by Michelle Flaherty Thursday, Oct 19, 17 @ 9:42 am
“It depends upon what the meaning of the word ‘is’ is.”
While I can appreciate the sentiment of calling it an investment when tax dollars are usefully spent social enhancement; I can also understand the observation that tax money distributed to infrastructure projects or maintaining the welfare of citizens is not an investment, just the government spending citizens money.
Kind of like a politician promising to not increase taxes, while instead proposing to increase fees for goverment services that law requires citizens partake in.
Politics….It’s all cognitive semantics
Comment by Anonymous Thursday, Oct 19, 17 @ 9:53 am
When it comes to government “investing”, I view the term as anything that will benefit the public and/or result in costing the taxpayers less in the future.
“Investing” in infrastructure (roads, bridges, mass transit) benefits taxpayers in numerous ways (and it generates additional tax revenue through gas taxes). It’s also “investing” when we make smart choices about certain social services. For example, hiring home health workers for disabled persons is a better investment for the State because $200 per day on these services is a better value for both the disabled person and the taxpayers than paying $1000/day toward a nursing home or other institutional setting.
Comment by notgreat Thursday, Oct 19, 17 @ 9:55 am
Aw, shucks, the troncies are just sittin’ outside the fillin’ station and whittlin’ round the cracker barrel, opinin’ populist ’bout them revenooers.
When Sam Zell raids your ESOP to make a bonehead $8B play for the L.A. Times, is that “investing” or “stealing?”
Comment by wordslinger Thursday, Oct 19, 17 @ 9:59 am
Infrastructure investment is truly that … and a ROI can be easily seen.
Other government spending, especially in education, can also be an investment in people, etc. … but the ROI is often fuzzy or not seen for 20 years or more.
Government spending just to maintain a current environment or situation is where it gets questionable …
Comment by RNUG Thursday, Oct 19, 17 @ 10:00 am
Politicians are misleading you when they use the word because it suggests a personal ownership which cannot exist. They do it in order to gain support for their government spending. They do it to suggest that there is an individual benefit.
The problem is the use of the word as a verb, and as a noun. The verb does not synch with the noun - they don’t mean the same thing.
The Trib statement is backwards. When you buy Apple stock, you purchased an investment, and when the government invests, it is not buying an investment, it is investing in a good or service that will return greater value to all.
Comment by VanillaMan Thursday, Oct 19, 17 @ 10:05 am
maybe the Trib is not invested in Rahm.
Comment by Amalia Thursday, Oct 19, 17 @ 10:06 am
Buying the IPO would be investment in company not a resale on the secondary market. Most of what goes on in finance is asset inflation not investment.That would include what private equity outfits do.
Comment by David Thursday, Oct 19, 17 @ 10:17 am
Uh— anyone accessing this site right now is the beneficiary of Darpa (Defense Advanced Research Projects Agency) Dept of defense ARPANET. This was the first internet designed to ensure communications survival in the event of nuclear war.
This investment laid the groundwork for apple and the rest.
Same with the highway system. Sold as a project designed to allow bettet access and movement of military equipment in tje event of crisis so they wouldnt have to travel the shoddy roads that existed previously. Ask anyone who was alive in 1962 to deacribe the convoys headed to Florida for planned Cuba invasion.
That investment of taxpayer dollars lead to - suburbs, trucking and phenomenal economic growth post WWII.
Like allowing the Tribs trucks to deliver their papers from printing downtown to the then new suburbs.
Comment by low level Thursday, Oct 19, 17 @ 10:19 am
Government spending is one of the keys that make countries first-rate. The government is the big collective, where we all pool our money for the common good. No way can the private sector match the ability of government to provide and fund basic services and social services. That is major investment.
Someone once told me that government doesn’t create jobs, while this person had been working at a government job for decades.
The big problem is when people like Rauner trash the government and those who work for it but make so much less money than him, while he’s profited at the public trough for decades
Comment by Grandson of Man Thursday, Oct 19, 17 @ 10:24 am
==VanillaMan:”They do it in order to gain support for their government spending. They do it to suggest that there is an individual benefit.”
Do you own the road that was paid for by tax dollars? Or the fire engine? No. Do you benefit? Yes. Also, if you’re a business owner, do you benefit? Also yes.
Comment by Ed Higher Thursday, Oct 19, 17 @ 10:26 am
This is why many assume the entire Tribune organization, including the newsroom, has an anti-government bias, not just the editorial page.
Good Trib reporters ought to be outraged. I wonder if they are.
Comment by Wtf Thursday, Oct 19, 17 @ 10:26 am
Governments invest in infrastructure that attract and develop commerce and ultimately the tax base for a region.
Our public roads, public transit, and public universities are tax-funded investments that attract and help private business maximize profits with better access to customers and an educated workforce.
It’s gross that the Tribune staffer who wrote today’s Morning Spin teaches hatred of government to journalism students.
Comment by hisgirlfriday Thursday, Oct 19, 17 @ 10:26 am
Professor, is a college degree in journalism an ‘investment’ — or just spending money?
Professor?
– MrJM
Comment by @MisterJayEm Thursday, Oct 19, 17 @ 10:52 am
==Do you own the road that was paid for by tax dollars? Or the fire engine? No. Do you benefit? Yes. Also, if you’re a business owner, do you benefit? Also yes.==
Agreed
What’s your point?
Comment by VanillaMan Thursday, Oct 19, 17 @ 10:59 am
Ranks up there with “how are you going to pay for a tax cut?”..as if govt spending must always increase yoy…
Comment by Exploding head Thursday, Oct 19, 17 @ 11:06 am
=$200 per day on these services is a better value for both the disabled person and the taxpayers than paying $1000/day toward a nursing home or other institutional setting.=
I’m not sure where this $1000/day nursing home is. Most average about $200/day.
Comment by Downstate Rube Thursday, Oct 19, 17 @ 11:26 am
==Professor, is a college degree in journalism an ‘investment’ — or just spending money?==
Nowadays? Option B.
Comment by City Zen Thursday, Oct 19, 17 @ 11:34 am
If government spending can’t be an investment, I would like one of those aircraft carriers the Navy thinks are worthless.
Comment by Quizzical Thursday, Oct 19, 17 @ 2:23 pm
Let me be clear, when the government puts money into education, human services, or any other program, it is an “investment” in the true sense of the word.
I just don’t think it’s a good way to frame things in the long term because of the baggage the term carries.
Tronc thought they were spending money wisely when they gave bonuses to managers that got them into bankruptcy. No one really should care what they have to think about wise spending.
Comment by Free Set of Steak Knives Friday, Oct 20, 17 @ 1:30 am