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Why are the Olympics such a big deal to Obama?

~FOX TV Chicago has been ordered not to run an anti-Olympics story again that shows Chicagoans saying that they don’t want to spend the millions of dollars to have the Olympics in Chicago, and that they would rather it be held in Rio.
http://www.breitbart.tv/chicagoans-for-rio-not-everyone-in-illinois-wants-the-2016-olympics/
http://www.chicagoansforrio.com/

~It took Montreal 30 years to pay off the debt they accrued from hosting the Olympics. Does Chicago need this?
http://blogs.forbes.com/sportsmoneyblog/2009/09/ioc-only-pays-lip-service-to-fiscal-prudence/

~Athens, Greece spent roughly $13 billion -nearly one fifth of the country's GDP - to host the 2004 Games and is still struggling to pay off the debt.
http://media.www.redandblack.com/media/storage/paper871/news/2009/09/29/Opinions/U.s-Not.Economically.Ready.For.Olympics-3786153.shtml

 
grlygrlz2

Asked by grlygrlz2 at 7:25 AM on Sep. 29, 2009 in Politics & Current Events

Level 39 (106,530 Credits)
This question is closed.
Answers (16)
  • Having been raised in Cook county IL where Chicago is, The people of Cook county DONT NEED higher taxes and bringing the olympics to Chicago will only make cook county's taxes on everything go even higher. I think Obama and Mayor Daily are in cahoots to change the landscape of Lake Michigaan as there will be several complexes built for the olympics if they are to be in Chicago. Not to mention all the low income housing people that will be put out on the streets if Chicago gets the olympics.
    vbruno

    Answer by vbruno at 9:15 AM on Sep. 29, 2009

  • Can Chicago afford this? Can the US afford to host the Olympics?
    grlygrlz2

    Answer by grlygrlz2 at 7:26 AM on Sep. 29, 2009

  • Olympic committees fix their budgets by deleting the costs of infrastructure projects from their balance sheets, because keeping them in makes the games look like not such a great deal. Recent host cities have woken up after the games with wretched hangovers. Athens is swimming in $9 billion of debt, Sydney took on $3.2 billion, and the vaunted Barcelona Games stuck taxpayers with a $1.4 billion tab. The 2012 London Games has already spent twice its budget, and estimates for Beijing's bonanza come in around $40 billion.

    grlygrlz2

    Answer by grlygrlz2 at 8:04 AM on Sep. 29, 2009

  • Craziness I tell you and those are great points grly as usual you bring it ;).IMO alot of it has to do with filling his buddies pockets.Hohum look at the rate he and this admin are going all the fans will have is something like this..Well at least he brought the Olympics here what did Bush do go to war? ...
    tnmomofive

    Answer by tnmomofive at 8:07 AM on Sep. 29, 2009

  • Like we don't have bigger issues to worry about?!?!? Like the huge debt he's leaving our grandchildren - - and he wants to worry about where the Olympics are held???
    Anonymous

    Answer by Anonymous at 8:10 AM on Sep. 29, 2009

  • Because obama thinks he rules the world and whatever he says will happen. It is a waste of his time and our money. I really don't care if the Olympics come to America, we don't need more debt in this country.
    usmc0351wife

    Answer by usmc0351wife at 8:18 AM on Sep. 29, 2009

  • Question on whether or not there was a Debt on Atlanta for games?  And Atlanta's cost was less than half of the $4.8 billion Chicago has estimated it will need to raise if the city is awarded the 2016 Olympic Games.

    grlygrlz2

    Answer by grlygrlz2 at 8:39 AM on Sep. 29, 2009

  • This is just a token thank you to his buddies back in Chi-town. It's another feather in his cap because everything else he has been touching lately just turns to shiz.
    Anonymous

    Answer by Anonymous at 8:56 AM on Sep. 29, 2009

  • Because to Obama and his buddies, sports are the be all and end all, and the Olympics are the peak of sports competition. They simply want to be able to tell the"home team" that they rode into the White House got the the Olympics for Chicago! The rest of the country can go to hell on a greased rail, but by God he got the Olympics for Chicago!

    Anonymous

    Answer by Anonymous at 9:21 AM on Sep. 29, 2009

  • Here's the thing, though

    Olympic Games Profits Since 1984

    1984: Los Angeles Olympic Games made profits of US $250 million.

    1988: Seoul Olympic Games made profits of US $300 million, a record high for a government-run Olympiad.

    1992: Barcelona Olympic Games made profits of US $5 million.

    1996: Atlanta Olympic Games made profits of US $10 million.

    2000: Sydney Olympic Games Organizing Committee generated an income of US $1.756 billion.

    2004: Athens Olympic Games ended in a loss.

    The games aren't automatically debt-incurring, it depends on who manages it. And lets face it, if there's one thing Chicago politicians are good at, it's making every shady deal they can to make a profit. For all the inconvenience, this could actually be the one "stimulus" that actually creates jobs and doesn't lose money. Just ignore the fact that Chicago bid on it LONG before Obama was anything to do with
    NotPanicking

    Answer by NotPanicking at 9:22 AM on Sep. 29, 2009

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