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Posted on 06/14/2026 6:39:23 AM PDT by dynachrome
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.
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.
Fox News Digital previously reported that the foundation had deposited just $1 million into the reserve fund in 2021 and that the balance remained largely unchanged in its most recent publicly available filings.
(Excerpt) Read more at foxnews.com ...
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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.
> taxpayers could be left holding the bag <
Maybe I’m missing something. But why would taxpayers be involved here? The Obama Foundation is a private entity. It isn’t a government organization.
Did the Biden administration or Chicago co-sign, or offer other guarantees?
Obama and his cronies looted everything and will dump the library on the public to pay the operating expenses.
In 5-10 years, the library will be a dilapidated eyesore for the city.
No contractor had to work on the Obungle debacle. Don’t know how a project gets that far along if no one doing actual work was getting paid.
Here’s an idea... Raze the giant trashcan er, library and sell the site to pay the contractors off.
F R A U D
S/b “…doing actual work _wasn’t_ getting paid.”
Looks more like what a Borg penis would look like.
> In 5-10 years, the library will be a dilapidated eyesore for the city. <
I would have said in 5-10 months, but I’m naturally pessimistic about this sort of thing.
There’s a lot of open space around that bizarre building. How soon before it gets filled up with bums, drug dealers, and petty criminals? I know Democrats don’t like walls. But maybe they’ll have to build a wall.
Then we’ll have even more evidence of their hypocrisy.
The contractors didn’t put progress payments in their terms? Do they have liens on that giant POS?
You cannot expect him to run his Organizing Amerika and come up with a guarantee too do you?
Maybe 1-year tops before the surrounding area is filled up with drug dealers, prostitutes and your random shootings.
Anyone legitimately interested in the Library will stop visiting, it will begin to lose tons of money and Obama will abandon it, leaving the City of Chicago to foot the bill.
He and Big Mike and the rest of the clan are owed that given all they’ve done for the city and country.../sarc
Given 0bama’s towering intellect, the library seems like a fitting memorial.
Grifters grifting grifters. I bet every contractor was given to another connected “minority” grifter that cut every corner and in 15 years the place is crumbling like every other grifter built complex.
all of his real-life records have been sealed for 75 years to cover up the fraudulent democrat scheme.
Cracks were showing in the concrete months ago.
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