
Failed US Olympic Bid Lets Taxpayers Off The Hook
You have to wonder about the political dynamic of President and Mrs. Obama traveling to Europe to personally pitch and lobby for the Unites States to host the 2016 Olympic games in the President's home city of Chicago.
The news that the US was not chosen to host the 2016 games was bad enough (politically), but to be eliminated early in the process…
So… Either the President knew Chi-town was out, but felt he needed to show the colors (lest not being chasen be layed at his feet) or he didn't know and that is sad.
Either way, it is good news for taxpayers in Chicago, Illinois and perhaps the country. You see, at some point, the International Olympic Organizing Committee put an outrageous requirement into place that the host country's GOVERNMENT has to indemnify the IOOC against an Olympic Games that loses money. That's right — if an Olympic Games hosted by the U.S. loses money, taxpayers are on the hook! The people of Greece are still reeling with the debt absorbed by their government because the Olympics in Athens in 2002 lost money.
On a side note, as someone who likes to attend Olympic Games… Read More