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In addition, funding will come from Obama's own fund-raising efforts and from private contributors
The federal government has budgeted $49m for the inauguration. But this does not take account of other demands, such as from Virginia and Maryland, the states surrounding the capital, that have also asked for emergency funding.
The significant majority of funding for [Bush's 2004 inauguration] festivities, including nine officials balls, are from private donations and tickets for events held by the Presidential Inaugural Committee, a similar setup to fund raising Mr. Clinton used to underwrite his inauguration. Mr. Clinton had a record 12 balls in 1997.
A Jan. 20, 1997, story by USA Today estimated about $12.7 million of Mr. Clinton's inauguration was financed by U.S. taxpayers. Initial estimates indicate the District will foot about $17 million in security costs this year.
Four years ago, the Associated Press and others in the press suggested it was in poor taste for Republicans to spend $40 million on President Bush’s inauguration. AP writer Will Lester calculated the impact that kind of money would have on armoring Humvees in Iraq, helping victims of the tsunami, or paying down the deficit. Lester thought the party should be cancelled: “The questions have come from Bush supporters and opponents: Do we need to spend this money on what seems so extravagant?”
Fast forward to 2009. The nation is still at war (two wars, in fact), and now also faces the prospect of a severe recession and federal budget deficits topping $1 trillion as far as the eye can see. With Barack Obama’s inauguration estimated to cost $45 million (not counting the millions more that government will have to pay for security), is the Associated Press once again tsk-tsking the high dollar cost?
Nope. “For inaugural balls, go for glitz, forget economy,” a Tuesday AP headline advised. (that article is here: www.google.com...)
Originally posted by scobro
It is an historic occasion,but the cost of this exercise seems way out of proportion considering this is the supposed man of "change"!
This is a huge slap in the face for the millions of Americans who, at this very moment,are struggling to keep their families heads above water!
Originally posted by Greenize
I hope they enjoy the party while countless Americans are going to bed in the streets or in shelters, hungry and unemployed due to no fault of their own.
Originally posted by LowLevelMason
In previous threads Obama's defense brigade on ATS have proclaimed that his inaugeration wasn't expensive at all because it was projected to be "only" $50 million dollars.
As expected, the Obama campaign tried to keep secret on the costs because the real cost is soaring and out of control
The hypocrisy in Obama
Here is someone who has announced that things are horrible and will get worse in the economy and that the great depression II is a very real possibility
And yet, he is spending fantastical sums