Jun 29, 2009 6:25 pm US/Central
Will Taxpayers Have To Pay For 2016 Olympics?
CHICAGO (CBS) ―
Mayor Daley and most city officials are 100 percent behind Chicago's bid for the 2016 Olympic Games. That's in sharp contrast to the first floor of City Hall where regular folks go to conduct business, and in many cases, spend their hard earned money.
CBS 2's Mike Parker reports that despite fears that Chicago taxpayers may have to eat any cost overruns connected to the proposed 2016 Olympics, aldermen seem unfazed.
"I believe that the Olympics are going to be a good thing for the city of Chicago," Ald. Ed Smith said. "My position is, nothing ventured, nothing gained.
"We need a stimulus in Chicago and I think this could be that catapult," Ald. George Cardenas said.
Don't tell that to the hundreds of Chicagoans who stood in line for hours Monday to buy their vehicle stickers.
These folks are fazed. They've had it with tax increases, higher fines and increased fees. And they don't want to get stuck paying for a more-expensive-than-planned Olympic spectacle.
"It's coming from the people like me that are in college, from poor people that have to pay for it and foot the bill for the politicians' mistakes in the past," said taxpayer Phil Blundell. "It's going to come out of my pocket."
"We're senior citizens, you know, and so I'm not happy about having to pick up that cost," said taxpayer Sandra Funderberg.
What's riling these folks?
Mayor Daley's verbal pledge recently to Olympic officials that he would sign a contract committing Chicago to full fiscal responsibility.
Today, he tried to turn down that heat.
"We're going to come up with a backup system to protect the taxpayer," Mayor Daley said. "This is the whole process. I just can't go out and sign something. I just can't. That's impossible."
When asked if he is guaranteeing that taxpayers are not going to get hit with a bill, Mayor Daley said, "That's what we're guaranteeing."
The city has to come up with a plan by October 15th.
The mayor also says none of the Olympic Games staged in the U.S. in modern times have lost money.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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