Romney’s 2.7 Billion Olympic Bailout by John McCain

In 2002 the Winter Games held in Salt Lake City, Utah, home of the Mormon Church, Mitt Romney canvassed the White House for a bailout of the Olympic Games.

The Final Bill was: 2.7 Billion Dollars given to Romney by George Bush, the then, President to complete the Games which was grossly over-budget from the initial costs.

The taxpayer saved the Olympic Games from what was corruption, greed and misappropriations of funds.

Mitt Romney failed to gather support from corporation sponsors to swing the costs to private businesses, which is one of the qualities he boasts about in his run for the 2012 Presidential Election. Had that been true, the taxpayer would not have been footing the bill for the entire project.

Romney has no problem asking for a government bail out and no problem admitting he could not accomplish the task of funding the Winter Games.

In this clip, Senator John McCain blows up on Romney’s pork barrel project and the failure to remain within budget.

In this same clip Mitt Romney calls it” Modest help when he asked Senator Bennett, a member of the Appropriations Committee for money”. Sen. Bill Bennett was the Republican Senator for the State of Utah, whom he worked with to get the massive bailout money during the Bush Administration.

Apparently, Mitt Romney lobbied Hard for Money from Congress to bail him out, to fund the Olympics and to add to the National Debt, and in the end he credits himself for “Saving the Olympics” as he puts it.

Romney: “I think he was thinking we were asking for 5 to 10 million, we asked for several hundred million dollars in help. Everything that was needed was ultimately obtained”.

McCain: “…The American taxpayer has become by far, the largest single underwriter of the costs of hosting the Olympics”.

We apologize for the audio quality, please adjust your ears, but this is well worth listening to as we continue to vet Mitt Romney for the Presidency of the United States.

As Senator John McCain points out:

1) The 1984 Summer Olympics in LA received 75 Million Dollars in Federal Support.

Compared to:

2) The 2002 Winter Olympics in Utah received 1.3 Billion Dollars in Federal Support. (Final Total was 2.7 Billion)

3) What the Money was Used for:

91% in LA was for safety, Security, Safety
7% was non-security funding

4) In Utah the 1.3 billion was spent on building Salt Lake City Infrastructure

$ 974,000 Utah Olympics Public Safety Command
$ 5 Million Dollars to Communications Agency Networks
$ 3 Million Dollars to Olympic Regional Development (Upgrades to Sports Complex)
$ 2.5 Million Dollars Bus Facilities
$ 2.5 Million Dollars to SLC regional parks ride lines
$ 500,000 SLC Transit Bus
$ 925,000 SLC Public Safety after the Olympics
$ 1 Million for SLC Security and Training
$ 2,200,000 for SLC Sewer Infrastructure Needs associated with the Games.

I am Mitt Romney and I can Blow your Taxpayer Money Big Time

As Sen. McCain outlines, what began as corruption and bribery charges in Salt Lake City, before Mitt Romney took over, turned to massive paybacks, pork barrel for the City and friends of Mitt Romney.

It was no surprise that the Salt Lake City association with the Mormon Church is the connection here to Romney and the pork barrel spending. Mitt Romney now donates stocks from Bain Capital regularly to the tax free status Mormon Church.

President George Bush approved of Mitt Romney’s pork barrel spending, which included the construction of roads and bridges for the Olympics.

If Salt Lake City needed 1.3 billion in infrastructure required to host the games, they never should have been chosen as a viable site to host the Games.

In conclusion, Mitt Romney claims he will slash spending and reduce the deficit, when his track record shows he does not know how to budget. In his term as Gov. of Mass. he also left the state with a 5 billion dollar deficit. As a potential candidate, Romney’s record evolves around:

The Romney Big Tax Payer Spending record and passing the costs on to the middle class who pay the volume of taxes to run this country are legendary. Although he makes false claims in the mainstream media, and they erroneously report “He saved the games in 2002″ the reality of what Romney did is a completely different story.

What you hear on NBC, CBS, Fox News, and CNN the other faux news channel, is just one example of the fabricated misinformation on the reality of the big spending, bailout that Mitt Romney received as CEO of the 2002 Winter Olympic Games.

This is the Reality of Mitt Romney’s Resume on the 2002 Winter Games- The Most Expensive Games in US History