Mayor Promises Blank Check to IOC

Watch this CBS News clip to see how many times the Mayor lied to us when he promised there would be no risk to the taxpayers. Watch also as our clueless Alderman sputter and protest that were misled and misinformed.

No Games Chicago has been warning of this for six months!

As reported by Greg Hinz in Crain’s Chicago Business:

On Wednesday in Lausanne, Switzerland, the last fig leaf fell off Mayor Richard M. Daley’s illusion that Chicago can throw a 2016 Olympics party without risk to local taxpayers. Three years ago, Mr. Daley said taxpayers wouldn’t spend a dime on luring and running the Olympics, that the private sector would pay for it all, with a big profit likely to boot.

Then, a while later, he said the city would have to guarantee $500 million and the state $250 million — but the money never, ever would be needed because of hordes of Olympic sponsors and an undisclosed insurer that would make up any shortfall.

Wednesday, the ante went up — way up, into the billions. Bowing to pressure from the International Olympic Committee, Mr. Daley agreed that Chicago will sign the same host-city agreement that other Olympic cities sign, an agreement that includes a complete financial guarantee.

The Mayor has just promised to mortgage the financial future of the city for his Olympic pipe-dream. Don’t let  our city’s future go up in smoke!