But the reality is, Chicago dodged a bullet. The Olympics never are an economic winner. They're an excuse used to build infrastructure and it's easier to sell spending billions on the Olympics than on just straight up infrastructure. That's too bad that we have to find ways to lose money to spend money on quality projects.
Let's put this to rest now: Chicago losing did not hurt Obama. Sure the FoxNews types will say it did, but it's the Fox News people. They'd hate Obama if he gave them a trillion dollars and world peace. As Zorn points out, the Obama's were the only people to actually deliver on Friday. (I'm not going to post the stupid WashPost coverage... thanks for showing up about three years after the fact guys! We really needed your opinion! Why couldn't you know, not say anything?) In the end this wasn't the 2016Obama Olympics, it was the 2016 Chicago Olympics. Chicago lost because it's funding was very questionable and the USOC has pissed off the IOC. Rio won because IOC members wanted the games there. If Obama looks bad because Chicago didn't win, then you're a hater. Blast him for going over there and stumping for Chicago, but don't blast him because Chicago didn't win. This was much bigger than Obama (and I'd guess 95% of Americans don't care).
If you ever needed proof that elections are unfair (all elections) and there is no such thing as a fair election, let Friday's IOC vote be a reminder. First, it's pretty clear that Europe is highly over represented in the IOC. Madrid would have been awarded the Olympics if they had only done one round of voting. Yes, we don't know who voted for who, but Madrid really had no business in the final two because Europe had the games in 2004 and will have them in 2012 (not to mention Italy in 2006 and Russia in 2014). Europe is overly represented in all international organizations, in part because when they were set up they were the richest and most powerful countries on Earth. But it's the 21st century now, the world has and is changing. It's time to allow other organizations to reflect this (I'm looking at you, United Nations). The G-8, sorry, G-20 has already made that move. And it was a smart one over all.
I agree, the loss does hurt Daley:
Daley, who had derided the Olympic selection process before throwing his weight behind a Chicago bid in 2005, was counting on a win to boost Chicago’s economy and reinvigorate his own standing. The quick loss represents an embarrassment of international and local dimensions for a mayor who has dominated the city landscape and is used to getting what he wants.
If you don't think DC is a seedy place, check this out. And shockingly, another Family Values Republican is caught in bed with woman who is not his wife. Are there bigger hypocrites on Earth other than the Republican party right now? It's like they're trying to make sure that anyone under the age of 30 never votes for them.
Detroit can't bury her dead because they're broke. Watching this city over the last ten years is like watching an... Adverse Selection Death Spiral. So sad.
We're not out of this recession and banks are still deleveraging... yet why does everyone keep tell us that we are okay (or will soon be?) Getting over and past what happened last fall will take years. Yet everyone seems to be saying, 'now that the recession is over, lets move on to the deficit.' Only the recession isn't over and won't be
until the banks are okay. Krugman: "Look, I know more stimulus is a hard sell politically. But it’s urgently needed. The question shouldn't be whether we can afford to do more to promote recovery. It should be whether we can afford not to. And the answer is no."
The Canadian Government didn't fall last week. But the fact that it almost did makes you wonder if it's going to be the Italy of the 21st century. (Steven Harper also looks like he should be British, like the Tory MP from some stuck up English county).
And finally, because it's never too early to talk about 2012. But I have nothing to say about it.