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Arizona Is Buying Back Its Capitol Buildings


Good morning. I'm Steve Inskeep with congratulations to Arizona, which is buying back its own state capitol building. During the Great Recession, the state sold the capitol and other buildings to raise money. Think of the math. The state raised $700 million in the short term, then it leased the buildings back, promising rent payments projected to total far more than the sale price - free enterprise. A decade later, the state is borrowing money to buy the capitol back. Transcript provided by NPR, Copyright NPR.