January 19. 2009

The Obamas

Obama’s $150-$170 million dollar inauguration has come under fire from critics as being too expensive, especially during an economic crisis.

Obama hosting pricey party in a dicey economy

WASHINGTON – Unemployment is up. The stock market is down. Let's party.

The price tag for President-elect Barack Obama's inauguration gala is expected to break records, with some estimates reaching as high as $150 million. Despite the bleak economy, however, Democrats who called on President George W. Bush to be frugal four years ago are issuing no such demands now that an inaugural weekend of rock concerts and star-studded parties has begun…

http://news.yahoo.com

What Recession? The $170 Million Inauguration

Obama's Inauguration Has Been Financed Partially by Bailed-Out Wall Street Executives

The country is in the middle of the worst economic downturn since the Great Depression, which isn't stopping rich donors and the government from spending $170 million, or more, on the inauguration of Barack Obama .

Employees at banks, brokerages and Wall Street firms donated $7 million Barack Obama's inauguration.

The actual swearing-in ceremony will cost $1.24 million, according to Carole Florman, spokeswoman for the Joint Congressional Committee on Inaugural Ceremonies.

It's the security, parties and countless Porta-a-Potty rentals that really run up the bill.

The federal government estimates that it will spend roughly $49 million on the inaugural weekend. Washington, D.C., Virginia and Maryland have requested another $75 million from the federal government to help pay for their share of police, fire and medical services.

And then there is the party bill…

http://abcnews.go.com