Chicago and the Olympics

On many occasions winning the Olympic bid has been anything but profitable for a community. All the construction and preparation straps them, and they rarely recoup the investment. There have been exceptions, we all know that. Los Angeles turned a handsome profit, but they were already equipped for the mission. They had stadiums and sports arenas in place, and a fair amount of transient housing ie motels hotels visitors centers etc to handle the influx. That's not to say Chicago isn't. Since they have multiple sports teams, they have the stadiums. it is also a huge metro area.
What needs to be considered is the preparation and the timing. We are in a severe economic slump. Chicago and the state of Illinois are heavily taxed already. The money to invest in such an undertaking must come from some where. That means more taxes, revenue bonds, and federal dollars ie more taxes on everyone.
If Chicago wins the bid, and the leaders there begin building on a massive scale, that can only mean hardship for Chicago's tax payers.
Lets hope the bid goes somewhere with sane civic minded leaders who respect their base.