The problem at all levels remains oversupply. At the height of Tiger mania, the NGF told us that we could build a course a day for 5 (or was it 10) years and not meet demand. A lot of people took them at their word and built a lot of courses, many connected to housing developments and intended to sell houses with golf as a secondary consideration. But golf has always been something of a niche sport, at least in the US. When times are good and there is a charismatic figure at the top of the game (think Bobby in the 20's, Arnie in the 60's and Tiger before 2008) participation grows and courses are built. When those factors are removed or reversed, the game retrenches. The trends may be softened or exacerbated by those in leadership positions but the relationship is pretty obvious. So when the downturn came, golf went backwards just as it did in the 30's. As for Mike's issue with muni's, setting aside any personal pecuniary interests, it is really a matter of philosophy. When a community builds a muni, whether in the 1920's or the 2010's, it has usually made a decision that it is in the public good to provide golf to its citizens at a reasonable price. The forfeiture of property taxes and the willingness to accept a lower return, perhaps even a loss, is a reflection of that consideration since, in the end, every taxpayer pays a small portion of the amount sacrificed in taxes and/or operating revenue. So the real question is whether government should supply this amenity. We can suggest that muni's are a significant breeding ground for future players etc., but that is really beside the point. Mike wants government to stay out of the business. Of course, that in itself would cause the muni's to close thus reducing the number of courses, but those closings are OK under Mike's model. Again, it is largely a matter of philosophy. Finally, Mike's suggestion that the system isn't fair reminds me of a lesson my dad taught me when I raised the same complaint about one of his decisions. He said that he was teaching me a very important lesson, "life is not fair". Even if all the muni's disappeared, the playing fields would not be level for a variety of reasons that would vary from market to market. I concede the muni's have some advantages. The question is whether society has the right to grant those advantages to pursue a perceived public good and whether providing municipal golf furthers that objective. Given that I have a leadership position in a golf association that includes private clubs, privately owned public courses and muni's, I will not opine. I spend my time in this area trying to encourage greater participation at all levels remaining mindful of the limitations I previously alluded to.