Chicago, Illinois to Host the 2016 Olympics?

Governor Blagojevich has the Olympics on his mind. Actually, he wants the Olympics to be hosted in Chicago, IL in 2016. The decision that won't be made until actually in 2009 is between the two large cities of Los Angeles and Chicago. Chicago would be hosting the international summer Olympic games in 2016 if they get the vote.

As history knows it, Illinois funds haven't been exactly "in the green." Actually according to a report back in 2003, Illinois had the second highest deficit to be known in state history. It totaled to be a whole 957 million dollars. Even by 2016, the question would be even if the state of Illinois could afford such a grand event. Governor Blagojevich wants to commit 150 million dollars in state funds just as a safety net in case the games lose money. These funds would be combined with Chicago's already hard earned savings that have been produced by the city. Chicago's funding could actually lose out if they were to host the 2016 Olympics and their structure could be in a world of hurt.

Blagojevich has taken steps to outline this expensive commitment, which also would need the legislature's approval before taking action. Blagojevich quoted in a letter to his fellow businessman, Patrick Ryan that he believed that the state of Illinois has a significant interest in, and can make a significant contribution to, the success of the bid and the 2016 games. But what will the fellow government of Illinois have to say with the history of its deficit? Blagojevich also said that there wouldn't be any state funds taken unless the games ran more than a $975 million dollar deficit. That would still be a big loss for the city of Chicago, and of course, the state of Illinois.