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Posted on 10/18/2025 5:16:40 AM PDT by Libloather
Chicago taxpayers could be on the hook for hundreds of millions of dollars for the costly Obama Presidential Center after new tax filings show the Obama Foundation has only deposited $1 million into its promised $470 million reserve fund.
That’s the conclusion of an in-depth report by Fox News as it looked at what it described as a “sweetheart deal” to create the reserve fund “to spare taxpayers should the project ever go belly up.”
**SNIP**
He said that “the city never should have signed over the large section” of the park.
“They put a million dollars into a $400 million endowment, so it’s endowed. That gets you in jail as a securities matter,” Epstein told Fox Digital. “An endowment means that you have the money in hand. But they have nothing. … So, I regard this as something of a public calamity.”
“Without an endowment, they’ll have to scramble every year to cover $30 million in operating costs,” Epstein further explained. “The whole point of an endowment is to avoid that volatility.”
The Obama Foundation told Fox Digital that it will be making “significant investments in the endowment in the coming years,” claiming that raising money for the center has been one of its priorities.
“The Obama Presidential Center is fully funded, and it will open in the spring of 2026,” a spokesperson for the foundation said.
(Excerpt) Read more at breitbart.com ...
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Hold on. I see a few differing opinions on that.
The center's work includes digitizing the Barack Obama Presidential Library with the National Archives and Records Administration (NARA), to create the first fully digitized presidential library.[2] The Library is administered by NARA, which will preserve hardcopies of documents at a separate NARA facility; however, many will be loaned to the Presidential Center for display.[2]
https://en.wikipedia.org/wiki/Barack_Obama_Presidential_Center
And -
This Presidential Center is separate from Obama’s Presidential Library, but will borrow some artifacts from the National Archives to display at its location in Chicago’s South Side. According to its website, “the Center is a privately operated, non-federal organization.”
https://www.washingtonexaminer.com/news/3853865/obama-presidential-center-becomes-target-of-online-trolling/
The Husseins bought that park for $10.
As planned.
BO sneeringly knows this monstrosity will be an ugly festering boil on America and that taxpayers will have to forever foot the bill for this non-library ‘library’ is even better.
Benedict Obama, the jug-eared Musloid clown.
Article says:
“Chicago taxpayers could be on the hook for hundreds of millions of dollars ...”
I don’t care, they deserve it.
It is interesting how easily and seamlessly he switched from being a privileged Hawaiian stoner kid to becoming a Chicago black guy.
I remember that H.W. Bush never became a Texan to much of the media who even claimed at the end of his term and 70 years as a Texan that HW would return to the Northeast.
That giant porta potty?
If I pay for it then I am entitled to burn it to the ground.
LOL! I’m OK with our tax dollars finishing this...on one condition. Putting Hussein in this prison lookalike for life with no outside communication. Tourists can walk through this building (for a charge that goes to pay for it) and watch Bathhouse Barry throw feces at you through thick glass like monkey and ape exhibits at zoos.
I have a $10 bet that the BO library will be a video gambling and pot dispensary in 5 years
Nah, it will be just another “Gay Bathouse.”
On a cold day in the hell that is Chicago, it might usefully serve some homeless.
Chicago office workers should be glad it isn’t in The Loop.
“scramble every year to cover $30 million in operating costs”
His scammers have upped their game.
Gaza’s worst architect could not do worse.
Or a Spirit Halloween store.
Looks like headquarters for Darth Vader.
It’ll end up like old dated shopping malls. Tattoo shop, fingernail salon, mattress outlet.
Looks like a giant mole on Chicago.
King Barry's Flak tower:
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Obama’s library looks like something from Mordor in Lord of the Rings. Very appropriate for someone like Barry.
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