Great we just ensured that Daley's buddies gets to ream the whole state for $250 million



Senate signs off on $250M guarantee for Olympics

http://www.suntimes.com/sports/olympics/1497453,senate-approves-guarantee-olympics-032609.stng

March 26, 2009
BY DAVE MCKINNEY Sun-Times Springfield Bureau Chief

SPRINGFIELD — The Illinois Senate signed off on a $250 million state guarantee for the 2016 Olympics in a bid to burnish the city’s image before a visit next week by international Olympics officials.

“Our skin is in the game,” said Sen. Kwame Raoul (D-Chicago), the lead Senate sponsor of the Olympics funding guarantee, which passed 54-3 today and now awaits Gov. Quinn’s expected signature. “This means we can continue on an equal basis with the other bid cities.”

State taxpayers would be on the hook for up to $250 million only if the Olympic games prove to be unprofitable. The city has pledged $500 million in guarantees to boost Chicago’s chances against Madrid, Rio De Janeiro and Tokyo.

Raoul said he is “confident enough that we won’t tap into that $250 million that if I were a betting man, I’d put my own home on the line.”

Organizers believe the games could pump $22.5 billion into Illinois’ economy and create 315,000 jobs.

The only no votes today came from Sen. Michael Bond (D-Grayslake), Sen. John Millner (R-Elmhurst) and Sen. Kyle McCarter (R-Decatur).

I hate this fucking state.

The budget for the 2012 London Olympics has risen to £9.35bn.  9.35 billion pounds is like 18 BILLION dollars.  $250 million wont be shit when all is said and done.

You're right- the 250 million is just a start. I have no idea why our legislature thinks we can afford what amounts to nothing more than an ego boost for Daley and company.