"Don't let people believe the overall budget is what it costs to host the Olympic Games
That is a relatively small part of what is likely to be a much larger figure."
Given that the London 2012 Olympics budget (currently £12BN, including running costs) is spiralling out of control, I couldn't have put it better myself.
Who spoke such wisdom?
None other than the Minister for Culture and Sport, Tessa Jowell, during a question and answer session in Chicago (Chicago is bidding for the 2016 games).
Why is it that Jowell has only now recognised this very obvious fact?