Trying to explain economics to Republicans is like trying to shovel smoke.

Arizona’s Governor Jan Brewer, who makes Sarah Palin look like a physics professor, decided to make some money for the cash-strapped state by selling the State Capitol and some other public buildings to a private company and then leasing them back.  So, in 2010, she sold them for $81 million.

Now she wants to buy them back for the Capitol’s 100th anniversary … for $105 million.

I’d love to be her banker because the way Ms. Brewer sees it, the $24 million loss is  actually a savings, because , in her words, “If the state had taken the full 20 years to pay off the debt, the cost would be far more.”

So, Honey, $24 million is fair interest on $81 million for two years.   Who did you sell it to?  Payday Lenders or American Express.

Thanks to Stephen and Ralph for the heads-up.