Being profligate in a recession - NYC sports teams

In this time of recession, it seems profligate, reckless even, for American sports teams to be erecting billion dollar pantheons for their respective sports. Take the professional baseball and football teams of New York City for instance.

At the same time, the Jets and the Giants are moving to yet another new stadium in the Meadowlands, which will replace a perfectly good Giants Stadium, to accommodate shrimp-and-wine tastes. The new place will still hold major soccer matches, particularly if the United States is chosen to host the 2018 or 2022 World Cup.

Parts of the world are so in debt and in need of funds that people don't have enough to put two square meals on the table. These teams are/were playing in perfectly functioning stadiums and ball parks; such excess!