Obama Presidential Center Debacle Could Hammer Taxpayers

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The Obama Presidential Center may be an eyesore, but it is a fitting tribute to the Obama presidency. Consider this story from Fox News:

Concern is mounting that taxpayers could be left holding the bag if the Obama Presidential Center runs into financial trouble, as the foundation behind it has yet to establish a promised $470 million safety net to guard against a public bailout.

The scrutiny comes as a Fox News Digital investigation found multiple contractors and subcontractors claiming losses ranging from hundreds of thousands of dollars to millions on the project, with some alleging they remain locked in payment disputes and face financial ruin just days before the center’s grand opening.

There was supposed to be a safety net so that Obama would not resume his old habit of bleeding taxpayers…

Under its agreement with the city, the Obama Foundation pledged to create the fund, known as an endowment, as part of its 99-year deal to take control of the publicly owned 19.3-acre section of Jackson Park for a one-time payment of just $10.

…but leftists are never done bleeding taxpayers. According to the most recent findings, only $1 million is in the fund. In the context of Democrats throwing money down ratholes, that is a rounding error.

Concerns about the center’s financial state have raged for years, especially since construction delays and costs have ballooned from an original estimate of roughly $330 million to at least $850 million based on 2021 figures. An updated final projected cost has not been made public.

There is a simple solution. Put Democrats back in the White House, federalize the project, and then print whatever amount of money will finance this hideous monument to a pernicious moonbat’s ego.

As fitting as the bloated cost, incompetent management, and likelihood of shafting taxpayers is the scheduled day the Obama Center will open to the public. Juneteenth was established as a federal holiday to reward race riots for which Obama sowed the seeds with his racially divisive community activist tactics.

On tips from abcanc and Straight Shootr.

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