Typo of the Day: LA Olympics Take a Cost Hit

Oh man, we have yet another ridiculous increase in the budget for a public boondoggle in California. This time it’s the LA Olympics:

$700,000! That’s outrageous. That’s the price of a grande latte for every resident of, um, Oxnard. How much does a grande latte cost, anyway?

The online edition provides the actual numbers:

The predicted cost of staging the 2028 Los Angeles Olympics has risen to $6.9 billion, according to an updated budget released Tuesday by the private committee responsible for staging the massive sports event. The new figure represents a $700 million increase over previous estimates, with organizers saying they had to adjust for inflation after L.A., which originally bid for the 2024 Games, agreed to wait four more years.

OK, I get how $700 million can turn into $700 billion or vice versa, but how does it turn into $700,000? There’s no indication in the story that there’s even been a correction, let alone an explanation of how the mistake happened. Weird. But I suppose it doesn’t matter. By the time 2028 rolls around, I’ll bet that the difference between $700,000 and $700 million will seem kind of quaint.

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TIME IS RUNNING OUT!

We have an ambitious $350,000 online fundraising goal this month and it's truly crunch time: About 15 percent of our yearly online giving usually comes in during the final week of the year, and in "No Cute Headlines or Manipulative BS," we explain why we simply can't afford to come up short right now.

The bottom line: Corporations and powerful people with deep pockets will never sustain the type of journalism Mother Jones exists to do. And advertising or profit-driven ownership groups will never make time-intensive, in-depth reporting viable.

That's why donations big and small make up 74 percent of our budget this year. There is no backup to keep us going, no alternate revenue source, no secret benefactor. If readers don’t donate, we won’t be here. It's that simple.

And if you can help us out with a donation right now, all online gifts will be matched thanks to an incredibly generous matching gift pledge.

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