Did the Grammys Deserve a Financial Break?

Although contending with a budget shortfall, Los Angeles cuts the Grammys a big break.

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Although Los Angeles is facing a budget crunch, its city council agreed to waive more than $120,000 in special-event associated with the Grammy Awards, including permits and street closures. If that doesn't sound like much, consider that L.A. is facing a $433-million budget shortfall.

Is it justifiable? LAist thinks not, considering that city services are getting the ax and residents are going to have to pay more in fees like parking-meter rates. Although one councilwoman says the event injects $45 million into the local economy, LAist estimates the city could still end up on the losing end.

Do the grammys really need the money? The L.A. Times points out that they're already getting thousands of dollars in swag for the talent. Sounds like it's as much a political issue as it is a budget issue.