It looks like the Louisville Arena will move forward again. A compromise was reached that would allow the labor unions to monitor the construction but won't get to negotiate the ground rules for the project. It appears that all sides are in agreement so there are no further stumbling blocks for this fiscal boondoggle to move forward.

Of course there is enough fiscal stupidity in this proposal to make a bad deal worse.

• It guarantees prevailing wages for every worker
• It sets a goal of 20 percent minority and 5 percent women participation from employees and contractors.
• It sets a goal of 75 percent of construction jobs for residents of Kentucky and Indiana with 60 percent set aside for residents of the Louisville MSA.

The first mistake is the guarantee of prevailing wages. Forget trying to get the best deal for the taxpayers by letting the free market determine wages. No, we are going to artificially inflate the wages of a few people at a greater cost to everyone else. What a great deal!

The second mistake is setting artificial percentages for hiring workers. Whether it is hiring women or minorities or having to hire people from Kentucky or Indiana, one is introducing constraints that may only be met by going with contractors which are more expensive. Again, not a good deal for the taxpayers of the city.

Lastly, what is up with saying the workers have to be residents of Kentucky or Indiana? Is Indiana paying for any of the stadium? Last time I checked they aren't. So why not just focus on residents of Kentucky.

What a great deal for the taxpayers of Kentucky and Louisville! But we can't let the needs of the people get in the way of the dreams of the city's big wigs.