President Barack Obama will accept unlimited corporate contributions to help finance his 2013 inauguration, a shift from 2009, when corporate funding was barred and per-person donations were capped at $50,000.
The president's inaugural committee made the decision, which was first reported by Politico, because, they said, contributions from individuals alone would not raise enough to cover the price tag of all the events.
"Our goal is to make sure that we will meet the fundraising requirements for this civic event after the most expensive presidential campaign in history," Addie Whisenant, spokesperson for the Presidential Inauguration Committee, said in a statement.
The inaugural committee in 2008 said that its ban on corporate funding, among other initiatives, would help "underscore their commitment to change business as usual in Washington."
Lobbyists and political action committees are still barred from donating, and there will be no sponsorship agreements. All corporate contributions will be vetted and the committee will not accept any from companies who accepted TARP funds and haven't paid them back yet.
The inaugural committee also notes that these are the same guidelines to which civic organizations like arts museums and the American Red Cross adhere.


SPEND LESS!
This is the whole crux of the problem we are in today. If you can't afford things, then spend less and keep within your means. This is NOT about politics and everyone slamming each other, it is about fiscal responsibility. it is why we are trillions and trillions of dollars in debt. You simply can't continue to spend more than you make. This event is a prefect example. cut back on the festivities until you can afford it. Set an example for how things need to be managed in the future.
Waddya got?!?!??
Our President! Even when he's selling out, he's ethical about it. No money will be accepted from lobbyist, political organizations, or TARP companies still on a payment plan.
If Obama and his administration think that this is a time for a lavish celebration, then they should reconsider. It is not. He would send a better message to all if he just cancelled the whole affair. He's had his cake and eaten it, now let him lead with a government diet and see if all his rhetoric works.
You misunderstand the purpose of government in the US.
It is all about fund raising. It is about nothing else. All government actions are towards optimizing donations. There are no government actions for any other purpose.
Shall the Republicans end unemployment extensions or abortion rights? No, there's no need. They just mention that they might, and they get another round of checks.
Shall the Democrats end a war or raise taxes? No, there's no need for that... They just mention that they might, and they get another round of checks.
Once they have the check, their job is finished. Any governing that might happen is an accidental side effect of fund raising.
These are great times to be a DemocratandRepublican. "Both sides" (using the term sarcastically) have set new records with fund raising.
The SuperPAC system is bringing new funds in from international sources. Saudi Arabia, India, China, the UK and Russia may now buy US politicians anonymously.
It's going to be one heck of a party.
The Big O's limo tinted windows don't permit him to clearly see the many, many Americans on curbs seeking a handout. Else his inaugural champagne might have a bitter taste.
And, I don't care if the funds are from donors: let them give the money as a donation to reduce the debt, fund charity, give to neighborhood schools, etc.
Of course the President will accept unlimited corporate funds. The simple fact of the matter is that the President or any other government DC puppet will do what they are told by their daddy. The country, and most of the world, is owned by the mega corporations, the banking syndicate, and a handful of trillionaire sociopaths that control these institutions. "Democracy" and the "republic" are but a myth, as the people have no choice whatsoever. A two party dictatorship comprised of a gang of corporate whore criminals, is not a choice.
You can vote till the damn cows come home; but the result will always be endless overt and covert wars in faraway lands, further erosion of your most basic human liberties, escalation of the police/military state, and greater austerity/misery/serfdom forced onto the people as the trillionaires laugh their asses off. And if the millionaires think they are in the "club", then they are in for a rude awakening.
The sheeple may resume their trances now, watch football/the Kardashians all day, and pretend their favorite politician whores are working for the people.
"Come senators, congressmen, please heed the call.
Don't stand in the doorway, don't block up the hall.
For he who gets hurt, will be he who has stalled.
There's a battle outside ragin.'
It'll soon shake your windows and rattle your wallls!
For the times they are a-changin.'"
Since 1966!
Ah the inauguration. What a wonderful time of merriment to come. Bands playing. Flags waving. Crowds whooping. The Big O gushing over the attention. Looking forward to the many gala events coming with the flutes of champagne to wash down the caviar. Corporations clearly noting their contributions for future reference. And yet, many, many Americans on curbs seeking a handout. Whadda country!
More than 50% of Americans did not vote for Obama with good reason. The liberals are just as corrupt, greedy and easily bought as as the conservatives. Over 50% of Americans just wanted a different corrupt, greedy and easily bought politician in the White House.
Obama has been bought and paid for since his first day in office and now the REAL Obama will finally be shown for what he and his liberal party really is.
It's like in China where the resent news story told of what the highest Communist leaders live like as compared to their comrades. The communist doctrine says all INCLUDING the rulers of the country should share in all the wealth equally.
Well China is living proof that the no matter who is in charge the RULERS always have more and always can be bought when it comes to money.
That is the same with who is in the White House. Obama was bought and paid for before he ever stepped foot into the White House.
All you Obama lovers with your rose colored glasses from the 60'swho are still drinking the Kool-aid believing in socialism for the masses, (What is the Obama doctrine ) guess what, it does not exist in the White House. Never did, never will.
You only have to look to Europe to see that it does not work. Most things work in theory, but in reality, no, never work the way theory says it should.
"More than 50% of Americans did not vote for Obama".
Thanks for the lesson in Republican "fuzzy" (remember that one? Thanks W.) mathematics.
Everyday more and more proof that this guy is one hell of a train wreak.
Liberals - we all need to come together, admit our Government is dysfunctional on both sides. I will admit it. I also knew that getting Obama out was priority one.
This was a huge mistake and it's growing expodentolay.
What dirt bag!
well at least theyre not trying to cover up the fact theyre open to taking bribes and influence money
for obama this is a huge admission since his govt acts like a bunch of chicago gangsters
"chicago politics"
As a strong Obama supporter during the two past presidential campaigns, I am HIGHLY disappointed with President Obama and his inaugural committee for accepting whatever amount of money they can collect from contributors. President Obama, please place a cap on what you will accept from any individual and/or corporation. I guess I am naive to think that you need to spend millions of dollars on such a costly and elegant event just to say "thank you" to your contributors.
Please set an example and bring such expensive events back to "planet earth". Or for every dollar you raise, contribute 33% of the amount to worthy non-profit organizations. There is already enough cash flowing to politicians and campaigns. Let's put the money where it is truly needed -- to the millions of Americans who lack the political access, due to their inability to give you hundreds of thousands, if not millions of dollars.
Let's go over the top for this extravaganza! It's amazing how much of other people's money that one person can spend. And it's not the best of times...
I read the article, I like the way he is doing it, pretty smart I'd say. Maybe should order up a binder of crying towels for the cry babies though he he
I am sure there are not any requirements for the left over millions to be spent on a party or end up in Obama's pocket. What a great way to recieve his payoffs for "favors" for those who want the next big round of billions to be given away by Obama in the name of global warming or Green energy!
Obama's agenda is not to help Old or poor, middle class or student. He just tells people what they want to hear and blames some else when it does not work. Anybody remember the trillion dollars spend on shouvel ready jobs? HA HA HA (unquote) there is no such thing, there is to much red tape!! Where did the trillion dollars go? mostly to buy off the democrats who would not sign off on a bill that nobody even read!! Most americans even the misinformed that voted for Obama say no to this very expensive bill . This will cost every retired person alot more money and will limit services!
Why do you morons still chant his name? When your wife of 30+ years is rejected for life saving care because of her age. Remember you might as well have killed her yourself if you voted for Obama!!
Get ready people thing are about to get much much worse!!
Your post is a very weak attempt at reverse psychology because you are describing Republican behavior. I've noticed that Republicans are such hypocrites and like to portray the other guy as what Republicans actually are so it makes sense. It's like when you people label President Obama with 5 brands when it's impossible to be every one of them. Those are acts of hatred and desperation. You losers (R) don't even know the definition of most words you loosely throw around. So, how does it feel to be in the Party of Failure, Anger, and Misery(R)?
So, the Right Wing just LOVES private enterprise and private spending, and HATES public spending of "taxpayer" dollars, right?
Unless, of course, it is Barack Obama deciding to use private spending from private enterprise to pay for something.
The right wing's problem is their naked, unrepentant, and obvious hypocrisy.
They really are a sordid lot. No integrity whatsoever, no sincerity, no compassion. The once respectable republican party is the saddest thing about America today. They have degenerated into a gang of hateful, greedy corporate thugs who are iNTENTIONALLY hurting their own country in their desperate and pathetic yearning for power. Any American who still supports this horror show the right has become, should be ashamed of themselves for their ignorance and/or bigotry.
Obamanation and his Crüe want to tax the shi* out of the same idiots that paid to get him elected and now they want to give him more? Wow What a joke,I hope his Arab brothers donate the light show...on the House of course.
Why can't a guy just say, "Do ya" and the President say, "I do"? Then the guy grabs The President by his collar and coattails and throws him into the White House and slam the door shut. No fuss, no muss, no unlimited corporate funds.
Have you suggested that in inaugurations before President Obamas first one or is it only because President Obama is being inaugurated again and you hate him? Be honest.
I dislike him honestly,he is the worst President in history and will go down that way too.Let them Eat Cake Obama says,he is as black as I am,Obama is 50% Caucasian,40% Arab, 10% Kenyan,so no it's not because he is Black,it's because he is a Dictator and the biggest lier we have ever had in the WH.
Yep, hate him, guilty as charged. And during the worst economic conditions since the Great Depression, are you suggesting that it is a compassionate and appropriate example of a leader to "take unlimited corporate funds"?
Obviously anyone who deems this guy the worst President in history has zero knowledge of American history. We've had far, far worse than him. Warren G. Harding, anyone? Figured not. Keep taking a bath in bile, it's obviously doing wonders for your intellect.
President Obama I supported you during the past two presidential campaigns. I am now Highly disappointed with your decision to accept whatever amount of money you can collect from contributors. President Obama, please place a cap on the amount you will accept from any individual and/or corporation. I guess I am naive to think that you need to spend millions of dollars on such a costly and elegant event just to say "thank you" to your contributors.
Please set an example and bring such expensive events back to "planet earth". Or for every dollar you raise, contribute 25% to 33% of the amount to worthly non-profit organizations. There is already enough cash flowing to politicians and campaigns. Let's put the money where it is truly needed -- to millions of Americans who lack the "political access", because they are the majority of the American populace who individually can't give you hundreds of thousands, if not millions of dollars for your second inaugural extravaganza.
I don't think the President is going to read that. Have you tried corresponding with him via regular mail and using your real name to get your opinions across? Let us know how the President responds to your opinion.
Oh get a grip! It's one bash paid for by private money to celebrate not so much Obama, but that we stopped the traitorous gang of thugs that the republican party has become, from gaining any more power. Well worth a celebration I'd say!
Guess what Lib Oregonian,
Wake up!!! Obama hates America and the people he is suppose to represent,just like with Egypt and Morisi,they were duped by a Dictator And we have one too,50% of America was duped....Again,Let them eat cake says Obama
While the republicans say "let them starve."
That's funny, ster. That Van Impe guy from Trinity Broadcasting -- the one who has to keep his hands above the table so he doesn't whack off talking about end times -- calls Obama, the Dictator, as well.
This is what they do in Chicago. Businesses kick in money requested by Democrats and the Democrats reward the businesses with government contracts. It is known to all as Democrat Corruption or the Chicago Way and now the Obama Way. People elected a corrupt Chicago pol and now they have to live with the corruption and the destruction of the economy - note that Illinois the third worst run state due to Chicago Democrats, OBAMA!
Amerika--The best government money can buy. All pretenses of government by the people have been washed away by the US Supreme Court and the whores, who claim to represent We the People.
The diffrence is the Repub;ican's did'nt lie about it. They straight up said they would use corporate money. Obama is the one who, as the article say's, told us he was going to change the way Washington did business. Now he does exactly what he said he would'nt. No mas pantalones!!!
Not the "Change" you were promised, but the "Change" you are getting. Hypocrisy at it's height. In the continuing tradition of Chicago/Illinois politics- surely these are the last days of Rome. Print money, free stuff, punish those who succeed and strive in favor of the lazy, divide America, Class and Economic Racism- the Obama legacy.
Hey, but all the "free stuff" sure was great wasn't it? The "Obamaphones" were good enough but then all the other goodies, like this big bag of free Obamaweed I've been smoing while laying on my Obamachesterfield watching my free 48'' ObamaTV! Life sure is grand here in "Obamaland!"
Can't wait for MSNBC to revisit this in a year or two and see if any of the corporate/union donors received favors.
when a president goes back to his words...... he's just lost all the respect.
How about a presidential candidate who has gone back on almost every word he has ever spoken in his life? A candidate who has no core whatsoever, no convictions, stands for absolutely nothing? You should be glad a candidate like this lost if you are truly this concerned about anything Obama has said. You can call any politician a liar, no one ever manages to keep ALL their promises, not usually from a lack of trying though. The reality though, is that Obama is unusually honest for a politician and Romney is unusually dishonest even for a politician.