Report: Taxpayers Could End Up Footing the Bill for Obama Presidential Library (Center)

Breitbart ^ | 9/27/25 | Lowell Cauffiel

[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.

[GingisK]

Nice looking for a flak tower.

[Hattie]

Looks like an old dungeon. Similar to Hitler’s building.

[niteowl77]

All the aesthetes since 1933 have ridiculed the architecture of the Third Reich, but compared to Pharaoh Barry's Chicagoland answer to the pyramids, even the fortifications don't look too bad.

And Der Führer's Flaktürme is still standing 80 years after its last 3-shift workday and full occupancy, while I understand that Barack HUSSEIN Obama/Dunham/Soetoro/Jingleheimerschmidt's uncompleted monument is already having structural issues.

[Bernard]

To borrow from a thread that from a few weeks ago, it looks like “a soiled diaper in the parking lot of Grant Park”

[dljordan]

Where are the machinegun ports?

[KarlInOhio]

Without having Michelle serve as Secretary of State, senator or even president and without hauling out boxes of FBI files, Barry has nothing of value to sell to shake people down. He should have taken some grift lessons from the Clintons.

[Liz]

Fox News reported Chicago taxpayers could be on the hook for hundreds of millions of dollars for the costly Obama Presidential Center. Tax filings show the Obama Foundation has only deposited $1 million into what it promised was a $470 million fully funded reserve fund.
<><>Fox News described it as a “sweetheart deal”
<><>Suckup Chicago “created” the reserve fund “to spare taxpayers
<><>This assuaged taxpayers should the Obama project ever go belly up.
<><>Obeisant Chicago signed over to Obama the large section of the park.
<><>Chicago put a million tax dollars into Obama’s $400M endowment promise, to get it “endowed.”
<><>A move like that gets you in jail wrt securities matter,
<><>An “endowment” means that you have the money in hand.
<><>But in truth, Chicago has zero, zilch, nada, nothing.
<><>As an obedient Obama suckup, Chicago created a public calamity.
<><>Without a fully funded endowment, Chicago has a big problem.
<><>Chicago’ll have to scramble to cover $30 million in operating costs per year,
<><>The whole point of an endowment is to avoid that volatility.

[Liz]

DOGE found some $4.7 trillion in payments from the US Treasury Dept were missing a critical tracking code which made tracing the transactions “almost impossible.”

The payment is literally a “blank check” for whoever receives it.

Treasury checks pay IRS refunds, Medicare, Social Security, Veterans Affairs, Defense Finance and Accounting for DOD, and Office of Personnel Management checks.

The $4.7 trillion transactions were reportedly missing the “Treasury Account Symbol,” or TAS, an identification code which links a Treasury payment to a budget “line item.” DOGE described the use of such code as a “standard financial process.”

“The Treasury’s TAS field was left blank, making traceability almost impossible,” read an X post from DOGE.

The Musk-led project to curb waste, fraud and abuse in the federal government said in light of the discovery use of the TAS code is now mandatory.

“As of Saturday, this is now a required field, increasing insight into where money is actually going,” DOGE said, thanking the Treasury Department for its “great work” implementing the change.

Musk touted the change as a “major improvement in Treasury payment integrity.”

[Pete from Shawnee Mission]

This will be a good prison building once the “endowment” fails to provide funding and Obama and his Presidency are discredited. The City can reclaim the property under eminent domain and rent the naming rights that will allow businesses to place their name on the exterior walls to try to recoup some of the costs. “The Chicago Sun Times City Prison” “The National Broadcasting Corporation Detention Center” “U.S. Steel Rehabilitation Building!” “Honest Sam’s Bail bond Prisoner Housing Unit.”

[Nailbiter]

Looks like German Flak tower

[Liz]

Nigerian native headed Obama’s “Foundation” and a Biden hire
to helm Treasury trillions---which made Obama “a billionaire”

Official govt portrait Nigerian Wally Adeyomo, Biden’s US Treasury hire.

Nigerian native Wally Adeyomo is an experienced Democrat and more than proved his worth.

<>he was Biden’s US Treasury hire,

<>Adeyemo abruptly quit Treasury when Trump came in.

<>Ademeyo refused to handover documents chronicling his Treasury activities

<>he quit Treasury leaving $4.7 trillion in unidentified Treasury payments.

<>the Nigerian once headed Obama’s “Foundation” which made Obama “a billionaire.”

<>probably why Obama wont discuss his Foundation finances.

[tumblindice]

Ugly as a mud fence. Like Jughead.

[Right_Wing_Madman]

Looks like a German Flak tower

[Kudsman]

Or he is trying to erect a neo-Kaaba on American soil.

[bgill]

As long as it is only funded by Chicago, I don’t care what they do.

[beethovenfan]

World’s largest porta-potty. Seems fitting.

[randomwalk]

Alfred E. Adeyomo....

[PAR35]

Gunports are visible in the picture in post 7. Look like maybe 20 or 30 mm weapons can be accommodated, not just .30 or .50 cal machine guns.

[rdcbn1]

Obama has taken in close to a billion dollars for his library . Where has it went ?

[cpdiii]

The architect should be prosecuted for public indecency for that ugly piece of concrete.