Bush's Second Swearing-In to Cost $40 Million
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]