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What Recession? $27M Pours in Obama Inauguration

By  SHARON THEIMER

Updated 1:39 PM CDT, Tue, Jan 6, 2009

President-elect Barack Obama's Inaugural Reviewing Stand on Pennsylvania Avenue doesn't come cheap.
AP

President-elect Barack Obama's Inaugural Reviewing Stand on Pennsylvania Avenue doesn't come cheap.

 

Despite the economic hard times, money keeps pouring in for President-elect Barack Obama's inaugural festivities.

The inaugural committee has raised at least $27 million, donor information on its Web site Tuesday showed. Most of that has come in over the past three weeks.

If fundraising continues at that pace, Obama's inaugural committee will have no problem reaching or exceeding the roughly $40 million raised for each of President George W. Bush's two inaugural celebrations.

More than 2,000 donors are helping to finance Obama's Jan. 20 swearing-in festivities. At least 378 gave the maximum $50,000.

Top donors include financier and major Democratic donor George Soros, actors Halle Berry, Jamie Foxx and Samuel L. Jackson, Hollywood producer Jeffrey Katzenberg, directors Ron Howard, George Lucas and Steven Spielberg and actor, singer and director Barbra Streisand.

The inaugural committee is releasing the names of those who give $200 or more. It is refusing money from labor unions, corporations, political action committees, foreigners and Washington lobbyists.

The committee isn't turning away contributions from those whose enterprises lobby in Washington, however.

Google chief executive Eric Schmidt and five others at the Internet company gave $25,000 each. The inaugural committee received a total of $150,500 from six Microsoft employees, including the maximum $50,000 from Microsoft CEO Steve Ballmer.

Also giving the limit were Thomas Strickland, UnitedHealth Group executive vice president and chief legal officer, and two Indian tribes with casinos, the Cherokee Nation in Oklahoma and the Agua Caliente Band of Cahuilla Indians in California.

Microsoft, Google, UnitedHealth and the two Indian tribes have all lobbied in Washington over the past year.

Other maximum donors include Louis Susman, who retired this month as vice chairman of Citigroup, a banking giant that has received a multibillion-dollar bailout from the U.S. government.

Copyright Associated Press

Comments (11)

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  • George Corvin Sunday, Jan 18 at 11:22 AM FLAG COMMENT All we know about American politics is that it has been and is full of crooks, cowards (Clinton) and dummies. All we know about Obama is that his first name is Barack, meaning apricot in Hungarian and that he can talk the hindleg of a donkey. He did not get in because he proved himself to be good but because nobody could be more useless than Bush. Obama may prove himself, but so far delivered nothing and instead of wasting ... MORE >
  • Sovereignty Tuesday, Jan 6 at 7:37 PM FLAG COMMENT let them eat cake
  • marklott Tuesday, Jan 6 at 7:28 PM FLAG COMMENT Obama's claim to fame - CHANGE. Right!!!!....RG - God forbid the money should be given to a worthy cause, but what is a more worthy cause than a politician?....kelprod - as usual, you hit the nail right on the head. A black Jimmy Carter? Of course, everyone loves chocolate covered peanuts!!!
  • kelprod Tuesday, Jan 6 at 4:13 PM FLAG COMMENT Spending money in bad times is only negative when it is a republican doing it. Clearly, Mr. Obama is far better off financially then he was 8 years ago. Also, taking money from folks who lobby in Washington? Change? tsk, tsk........Mr. Obama- you have lied again. Mr. Obama's "lovefest" is coming apart very nicely- he is a shoo in 1 term black Jimmy Carter.
  • Hilda Tuesday, Jan 6 at 3:39 PM FLAG COMMENT CHANGE!!!!!!!!!!!!!! MEANING MONEY!!! CHING CHING....CHANGE....We are ALL being SLAPPED IN THE FACE...While the RICH Continue to have us working 2 or more jobs just to pay our bills..This is no small CHANGE......CHING CHING

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