Once again lobbyists, your money isn't wanted.
President-elect Obama announced his inaugural committee will not accept contributions from corporations, political action committees, current federally registered lobbyists, non-U.S. citizens and registered foreign agents. Individual contributions will also be capped at $50,000 - though there is no law requiring this limit.
The inaugural committee will be run by co-chairs: former Commerce Secretary (and erstwhile lobbyist) William Daley, hotel executive Penny Pritzker, businessmen John Rogers and Patrick Ryan, and Democratic fundraiser Julianna Smoot.
In 2005, George W. Bush spent a record $42.3 million on his bash, most of it for festivities, including fireworks, inaugural balls, the parade and a concert on the Mall. The District of Columbia and the federal governments spent a combined $115.5 million, most of it for security, the swearing-in ceremony, clean up and on a holiday for federal workers, according to The New York Times.
So where will the dough come from for Obama's party?
--Bara Vaida
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