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When the Olympics were awarded to us in 2003, I think many people didn't know what to expect from them. The financial boom, combined with hundreds of new jobs, and a space on the world stage was expected. We semi-expected there would be cost overruns, as that does always happen to a city hosting the Games. It happened for Athens, and Torino, and Salt Lake City, and they all turned out to have fantastic Games. There is a huge financial windfall that comes from holding the Games, which seems to get lost in the debate over whether we're spending too much to have the world here for two weeks. We may be spending a ton, but it's all worth it. It's an investment in our city and our country.
I don't think we should ignore this city's other problems, such as creating social housing, cleaning up the East side and reducing violent crime to be able to host the Games. This does seem to be the current approach however, as the BC Liberal government has earmarked no new social housing beds in its latest budget, and only touts to maintain the current funding for shelters, which isn't adequate enough anyways. I believe we will make out like bandits, with people who don't know of or haven't been to our beautiful little city a chance to see it plastered over their TV screens for a few weeks. We should get billions in revenue from the actual Games and afterwards, which is the main reason why they are such an excellent event for a city to host. It is a boon to the economy, and to all of us, as it gives the provincial government much, much more revenue for the homeless problem, health care and education spending. The main question about the Olympics, as it always has been, is if the costs outweigh the benefits.
Is it worth neglecting the homeless/drug problem for a few years to fund them? Is that offset by the hundreds of jobs and projects now being built here? Will Vancouver benefit, as Salt Lake City and Torino did, or will we end up still paying them off decades from now, as in Montreal? Are the Olympics what I think they are, an investment, or are they just a big waste of money for a two week party?
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