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Posted on 06/14/2026 9:10:06 AM PDT by Red Badger
Taxpayers could be left with a big tab if the Obama Presidential Center experiences financial trouble because its foundation has not yet established a promised $470 million safety net to guard against a public bailout.
That according a Fox News Digital investigation of the center’s finances as Chicago awaits its grand opening on Friday, June 19.
The outlet’s investigation, published Saturday, found that “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…”
In an agreement with the city of Chicago, the foundation promised to create the endowment, essentially a reserve of cash, as part of its 99-year sweetheart deal to to control the publicly owned 19.3-acre section of Jackson Park for a one-time payment of just $10.
The foundation had deposited just $1 million into the reserve fund in 2021, but the balance has largely not changed according to public filings, the outlet reported.
The shortfall is not the first chapter in matters not going as expected for the ambitious project, which also included handsome salaries for former Obama presidential aids.
As Breitbart News reported last November:
The Obama library was originally estimated to cost $300 million, before the budget was revised upward to $500 million in 2017, and then further up to $700 million in 2021. Now, in a financial disclosure form, it appears it will cost much closer to $850 million to construct the mammoth grey monolith building in the South Side of Chicago in Jackson Park.
(Excerpt) Read more at breitbart.com ...
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Ray Charles could have seen that coming. Grift is what Odumbo does best.
Warms the cockles of the heart! Couldn’t happen to a more deserving population!😀
Deal with democrats, you will get democrated. Graft is what they do and how they survive.
If the 0bama Center can’t operate without state or city dollars, let it close and eventually be sold off to another group to use as a prison.
What I said on a similar thread:
What should we expect from a structure that looks like an alter to worship Gog?
You think an obamanation like that would be paid for?
Those contractors are getting a taste of what we had to suffer through for EIGHT excruciatingly painful years.....this is what comes from climbing into bed with a serpent.
Very little sympathy.
A goofy smile and calling people hateful and racist is the Obummer story line.
Grifters are gonna’ grift.....
Liars are gonna’ lie.....
Scumbags are gonna’ be scumbags.....
In the words of the Late Bernie Mack...
Very representative of a corrupt Administration and its corrupt people. As long as it is state taxpayers that would have to pony up, I don’t care since IL is as corrupt as they come.
What a Shame...
Barry’s shrine to the dark side in
Financial Ruins,
It Will be a Grave Stone for Him and His Satanic overlords.
“...let it close and eventually be sold off to another group to use as a prison.”
Wonderful idea. Maybe the Trump administration should buy it for that purpose. That would “gall” Obama to no end.
wy69
I’ll be waiting to hear the grousing of the Dems saying “...but Trump stiffed his contractors too!”
Just like Obamacare.
Illinois and Chicago taxpayers will end up bailing out this fiasco. Pritzker and Brandon Johnson will see to that. Whatever it takes, so long as someone else is paying, to worship their god Obama.
If the 0bama Center can’t operate without state or city dollars, let it close and eventually be sold off to another group to use as a prison.
That's a good idea - put the prison where most of the future prisoners are.
And a prison would be much more beneficial to the community than the Obama islamo-commie propaganda and indoctrination center.
Other beneficial repurposing possibilities would be as a sewage treatment plant, a toxic trash incinerator or a nuclear waste dump.
Treat it like any other property.
Let them put contractor liens on it and auction it off.
A solemn oath or promise from the Obamatollah or his sycophants is as enduring as the proverbial fart in a windstorm.
Maybe Obozo should just write a check.
Bookman may have suggested a solution.
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