It will take President Bush less than a minute to take the oath of
office next Thursday, but before the inaugural events are over some $40
million may be spent on parades, parties and pyrotechnics. And that
doesn't include the costs of the most intense security operation in
inaugural history. The amount spent on this year's festivities will
rival the $40 million raised to celebrate Bush's first inauguration in
2001, and will exceed the $33 million spent by President Clinton in
1993 when Democrats returned to the White House for the first time in
12 years. While the partying is being paid for privately, there have
been some mutterings about the scale of the celebrations at a time of
war and natural disaster. Money for the celebratory activities is being
raised by the Presidential Inaugural Committee, which as of the end of
last week had received $18 million, much in six-figure donations from
wealthy supporters and corporate sponsors. Among the dozens of $250,000
donors are Home Depot, Bank of America Corp., Bristol-Myers Squibb and
Ford Motor Co. Kevin Sheridan, a spokesman for the committee, said the
fund-raisers were confident they would reach their goals. Sales of
inaugural memorabilia, another source of revenue, have been even better
than in 2001, he said. [more]
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