Tuesday, January 20, 2009
The country is in the middle of the worst economic downturn since the Great Depression, which isn't stopping rich donors and the government from spending $170 million, or more, on the inauguration of Barack Obama .
ABC News Bylline
Employees at banks, brokerages and Wall Street firms donated $7 million Barack Obama's inauguration.
(ABC News Photo Illustration)The actual swearing-in ceremony will cost $1.24 million, according to Carole Florman, spokeswoman for the Joint Congressional Committee on Inaugural Ceremonies.
It's the security, parties and countless Porta-a-Potty rentals that really run up the bill.
The federal government estimates that it will spend roughly $49 million on the inaugural weekend. Washington, D.C., Virginia and Maryland have requested another $75 million from the federal government to help pay for their share of police, fire and medical services.