Spare Change, you are so full of shit. Every major government project has had people that made fortunes off of it. From the Trans-continental railroad, to the Apollo Project. And many have been total failures at achieving their stated objectives, yet resounding successes when viewed from the perspective of impact on history. Corp of Discovery was one such project. Did not achieve it's major objective, cost over ten times as much as projected, and came in late.
LOL --- nothing like changing horse in mid-stream, huh?
First, you claim (post 68) that the government has always "
done the initial funding for new projects". I, of course, responded that you were totally inaccurate, that, in fact, most 'new projects' were funded privately. (Take a look at who funded the Eads Bridge in St. Louis, for example .... or maybe, the Spruce Goose ... or virtually any advance in the aviation industry for the first 75 years).
The federal government ONLY funds projects in which they will receive a tangible benefit. They are NOT in the R&D funding business, unless it pertains to a federal government goal (Apollo Project is a good example). In truth, government funding is a relatively new concept - your reference to the Trans-Continental Railroad, while inaccurate, is a more telling example of how it used to be done.
The Trans-Continental Railroad was funded by private interests, though there was MINOR involvement by the federal government.
"Unlike the moon project, the building of the railroad was undertaken by private interests, but only after Congress passed legislation to help finance the work.
The leaders of both companies lobbied incessantly for government aid. Their efforts led to the Pacific Railroad Acts of 1862 and 1864, which provided several forms of assistance. Each railroad received its right-of-way along with a land grant of ten alternating sections on both sides of every mile of track (about 12,800 acres per mile); the government retained the sections in between. In addition, the companies received government bonds totaling $16,000 a mile for each twenty-mile section of track completed on the plains. For the plateau between the Rocky and Sierra Nevada Mountains the amount per mile went up to $32,000 per mile and for the mountain regions, $48,000. Each company could also issue its own first mortgage bonds for the same amount as the government bonds, relegating the latter to a second mortgage.
These provisions sound more generous than they were. The land grant ultimately proved valuable to both railroads but played only a minor role in financing their construction. The land was difficult to sell, in large part because it had first to be surveyed, and the overwhelmed government land office issued patents (titles) to parcels at a glacial pace. In the end the land grant helped underwrite Union Pacific construction mostly as collateral for yet another class of securities known as land-grant bonds. The government bonds have often been described as a subsidy or handout to the builders of both railroads, but they were in fact a loan that ultimately had to be repaid. Each company was, of course, responsible for paying interest on its own bonds."
Financing the Transcontinental Railroad The Gilder Lehrman Institute of American History
The same financing model was used up until about the space program ... only now, is the government seen as a large bank that could be exploited with little or no risk.
Have people made fortunes off major projects that have had some level of government investment? Sure - but only after major investments of their own to bring the program spin-offs to market (take a look at the investment involved in computer development, chips, and electronics, for example).
So, you were wrong the first time ... but, once you jumped on the other horse, you were only partially right.