The saga of former President Obama’s library has been going on for years.
At one point, the library was encountering legal troubles. It seems the builders were going to go right through a historic section of Chicago.
Some criticized the library for not containing certain documents from the Obama administration. Those documents would not be available in physical format, but only digital.
Now, more controversy is arising over the long-delayed project. It turns out this monument to Barry will cost quite a large sum.
From Fox News:
Valerie Jarrett, president of The Obama Foundation, said during an interview with The Economic Club of Chicago last week that the informal presidential library will cost slightly “less than” $700 million – $200 million more than an initial estimate of $500 million…
“We are in the process of raising the capital for the building,” Jarrett said during the June 4 interview, adding that the Obama Foundation has raised nearly $900 million so far for The Obama Presidential Center and wants to raise an additional $400 million from Chicago.
Uh-boy. Apparently, Obama’s den mother, Valerie Jarrett, is bragging that this library that will celebrate Obama will cost almost $700 million.
His foundation has already raised $900 million (from whom, I wonder), but they want even more money. An additional $400 million is expected to be raised from Chicago.
From Chicago taxpayers, wealthy donors, or companies, Val? That’s a pretty important detail.
Chances are, Obama’s foundation will fleece the city of Chicago for that last $400 million, promising that the library will bring in cash.
In fact, they are expecting $3.1 billion in revenue from the library. What do you mean? In a year? Over ten years? Over a thousand!?
How is a presidential library going to bring in that much cash for the city? They don’t seem to explain that. Chicago is already a city full of museums and other attractions.
Is one more building, one devoted to a former president, really going to bring in that much cash?
And why does it need to cost $700 million? Will the floors be made of gold? Are they giving away iPhones to every visitor?
If it will cost only $700 million, why are they raising $1.3 billion? Jarrett claims that money will contribute to an “endowment program.”
Uh-huh, we’re buying that. Something tells me the folks they’ll be “endowing” are named Barack and Michelle.
- The Obama Presidential Library is expected to cost a little under $700 million.
- His foundation already has $900 million, but it wants $400 million from Chicago.
- The foundation claims the extra money will be for an unspecified endowment program.
Source: Fox News