First, he roots around in the sofa cushions and finds
$100 million he didn't know he had.
Now we find out His Royal Hairness forgot to carry the one and account for a little thing we like to call inflation...
David Peterson, who led Toronto’s successful bid to host the 2015 Pan Am Games, helped sway city council’s support with this classic quote, early in the process: “This is a chance for Toronto to have a great party with no hangover whatsoever.”
Now that the city’s bill has doubled, with four years of adjustments still to come, you can bet many councillors are today asking, what was he drinking?
[..]
At an executive committee meeting Monday, a number of councillors sounded stunned about various parts of a bill that suddenly has doubled. Mayor Rob Ford said he was “blindsided.”
They have a point. No one, anywhere, predicted the city’s costs would double, from $49.5 million to more than $97 million.
There was a small warning in 2009, but in the city’s 2010 budget, the potential for cost escalation had disappeared.
Then — boom — the Pan Am team demands another $47 million.
There are two key elements to the doubling of the price tag. The first is $22 million to clean up the old Morningside landfill site, so the Pan Am pool complex in Scarborough can be put on top of it. Surprise!
The second big bill is for inflation, a whopping $21.3 million, because the city budgeted for the games in 2008 dollars. Who budgets for 2015 using 2008 numbers?
I wonder where this stone cold fiscal prowess has led him to now?
outstanding.