Tue Jan 22, 2013, 05:42 AM
HiPointDem (20,729 posts)
So what do you get for a million-dollar "premium partner" inaugural "package"?
2 tickets to a benefactors reception
invitation to finance committee 'road ahead' meeting
2 tickets to children's concert
2 tickets to co-chairs' reception
4 tickets to candlelight celebration
invitation to VIP reception at candlelight celebration (PIC* donors only)
2 reserved bleacher seats at inaugural parade
4 tickets to inaugural ball
*PIC = presidential inaugural committee
President Barack Obama’s decision to collect unlimited corporate cash for his inauguration, and to disclose less about donors than he did four years ago, has triggered broad speculation about what he really plans to do with the money. Theories range from the claim that Obama is getting a jump-start on funding his presidential library to conjecture that leftover campaign cash will prop up his grass-roots organizing operation...
Any one of those theories could be true, given that inaugural festivities operate largely outside campaign finance rules. There are effectively no restrictions on what Obama may do with leftover inauguration funds, and no requirements that he publicly report how any of the money is actually spent.
The Federal Election Commission requires full disclosure of all inaugural donors, though the reporting deadline is not until three months after the event. But while donations must be disclosed, expenditures need not be.
Four years ago, Obama voluntarily imposed a ban on corporate inaugural funds and set a $50,000 cap on individual donations. His inaugural committee also released the names of donors and their occupations and addresses well in advance.
This time, the president is accepting unlimited corporate funds, and donors in the $75,000 to $1 million range are being rewarded with exclusive concerts, parties and reserved seating. The Presidential Inaugural Committee has posted a bare-bones list of “benefactors” on its website, but it does not include titles or addresses. Contributions from lobbyists and political action committees remain banned, as are donations from corporations that received funding from the government’s Troubled Asset Relief Program but have not yet repaid it.
4 replies, 701 views
Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Response to HiPointDem (Original post)
Tue Jan 22, 2013, 06:08 AM
xchrom (108,903 posts)
2. exxon mobile donates 260,000 to inauguration
President Barack Obama will be publicly sworn in today—on Martin Luther King Jr. Day—to serve his second term as the 44th President of the United States.
Today is also the three-year anniversary of Citizens United v. FEC, a U.S. Supreme Court ruling that - in a 5-4 decision - deemed that corporations are "people" under the law. Former U.S. Sen. Russ Feingold (D-WI) - who now runs Progressives United (a rhetorical spin-off of Citizens United) - said in Feb. 2012 that the decision "opened floodgates of corruption" in the U.S. political system.
Unlike for his first Inauguration, Obama has chosen to allow unlimited corporate contributions to fill the fund-raising coffers of the entity legally known as the Presidential Inaugural Committee. Last time around the block, Obama refused corporate contributions for the Inauguration Ceremony as “a commitment to change business as usual in Washington.”
But not this time. With a fundraising goal of $50 million in its sights, the Obama Administration has "opened floodgates" itself for corporate influence-peddling at the 57th Inaugural Ceremony.