http://www.nydailynews.com/news/politics/2009/01/13/2009-01-13_obamas_inauguration_is_most_expensive_ev.html
Obama's inauguaration could cost up to $160 million- the most expensive inauguration in our country's history.
President Bush spent $42.3 million in 2005, and Clinton spent $33 million dollars in 1993.
Why so much?
The surge in spending is partly because of the Obama's decision to open the entire Mall to the public (an estimated 1.5 million to 2 million!)
These costs include security, emergency medical services, transport (about 10,000 charters buses will arrive in Washington with roughly 500,000 riders alone), video and audio access to the ceremony and $700,000 to the Smithsonian Institution for extended museum hours as well as many other things.
I think that it is the security costs associated with the massive event that is driving up the price tag. Obama will need much more security than many of the other Presidents.
Where does this money come from?
Some funding will come from Obama's own fund-raising efforts and from private contributors.
Many of the costs, however, are bourne by the taxpayers, which means that we are paying for this inauguration!
The article says that "The federal government has budgeted $49 million for this year’s inauguration, more than triple what taxpayers spent at Bush’s first inauguration in 2001". Regarding the state of our economy at this point, is this extravagance really excusable?
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2 comments:
Ohhh that certainly is a lot of money! But at least the money is circulated back to other Americans, so we can keep the money flowing I guess. Personally I don't mind them using all that money though. Obama's made history and and changed the campaign game, so I just think of this as another outstanding record (although that is a lot of money!).
I think it is perfectly acceptable to spend that much in his case. For one, it was an amazing courtesy of him to extend his inauguration to the public. Everyone realizes how historical of a time this is and it was nice of him to let anyone who wishes to see participate. Secondly, this is a nice little step towards helping the economy. $160 million is being put into various services which will circulate later on. Remember, we need to get money pumping back into the economy. Also, the cost of the excess security is inevitable. Obama is going to need it. It is amazing how many records and historical events are occurring in these past few months/ year.
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