Obama Hosting Pricey Party in Hard Times
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.
Sunday, January 18, 2009
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.
Obama's inaugural committee has raised more than $41 million to cover events ranging from a Philadelphia-to-Washington train ride to a megastar concert with Beyonce, U2 and Bruce Springsteen to 10 official inaugural balls. Add to that the massive costs of security and transportation -- costs absorbed by U.S. taxpayers -- and the historic inauguration will produce an equally historic bill.
I understand the need to celebrate and whatnot, but "Beyonce, U2 and Bruce Springsteen"? $150 million?