Obama Reverses on Unlimited Corporate Cash for Inaugural
EmailAfter the most expensive campaign in U.S. history, President Obama is dropping his principled objection to some forms of political fundraising to help pay for the post-election party.
ABC News has learned that the Presidential Inaugural Committee will accept unlimited corporate donations to help fund Obama’s inauguration festivities next month, reversing a voluntary ban on the money he imposed on the inaugural four years ago and during the 2012 Democratic National Convention.
Obama will also allow individuals to contribute up to the legal maximum for the 2013 inauguration — $250,000 — lifting a $50,000 cap he voluntarily imposed in 2008, sources said.
The shift appeared to be driven by fundraising challenges in the wake of a multi-billion dollar campaign. Obama and GOP nominee Mitt Romney each raised north of $1 billion for the election cycle — historic highs — according to Federal Election Commission filings released Thursday.
Obama’s 2009 inaugural celebration cost $47 million.
Officials said cost considerations for the 2013 festivities would mean less elaborate events than four years ago. There will not be a star-studded concert on the National Mall, for example, and there will be fewer inaugural balls.
A spokeswoman for the committee said Obama will still not accept donations from lobbyists or PACs, or allow any individuals or corporations to formally sponsor specific inaugural events, such as the parade.
“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,” said Addie Whisenant. “To ensure continued transparency, all names of donors will be posted to a regularly updated website.”
Whisenant told ABC News that the Inaugural Committee will “fully vet” all individual and corporate donors and that “contributions from those not meeting the vetting standard will not be accepted.” Among those barred by law are foreign nationals and corporations; the committee says it will also reject funds from companies that have outstanding TARP payments.
Obama’s reversal is not the first time he has dropped self-imposed campaign financing rules meant to “change business as usual in Washington.” Earlier this year, Obama dropped his long-standing opposition to super PACs, giving his approval for top aides to support Priorities USA Action. During the 2008 campaign, he broke a standing promise to accept public financing for the general election.
The Inaugural weekend will kick off on Saturday, Jan. 19, with a National Day of Service that will include participation from the First Family, Vice President Biden, and members of the Cabinet — a tradition started by the Obamas in 2009.
On Jan. 20, as is constitutionally required, Obama will be sworn in during a private ceremony. A public-swearing in, parade and inaugural balls will take place on Monday, Jan. 21.
Leading the fundraising effort for inauguration are four of Obama’s most loyal surrogates and financiers: Former ambassador Matt Barzun, the Obama campaign’s national finance chair and a top bundler; actress Eva Longoria, an Obama campaign co-chair and bundler; Jane Stetson, finance chairwoman of the DNC; and businessman Frank White.
News of Obama’s shift on inaugural financing was first reported by Politico’s Donovan Slack.
UPDATE: A nonpartisan government watchdog group, Public Citizen, assailed Obama’s decision to accept unlimited corporate funding for his 2013 inauguration, calling the arrangement “Obama Inc.”
“The American people have a right to expect something other than an inauguration brought to them by Bank of America,” said Public Citizen’s president, Robert Weissman.
“Every corporation’s donations create a conflict of interest, because they all have business before the government in one way or the other,” he said. “The problem with donations from lobbyists is that they expect something in return for their contribution. The situation is exactly the same with corporate contributors, virtually all of whom employ lobbyists.”
Weissman called it doubly disappointing that the “corporate-funded” inaugural activities will fall on the anniversary of the U.S. Supreme Court decision in the controversial Citizens United case, which opened the door to unlimited corporate spending in campaigns — a decision Obama has decried.
Public Citizen appealed to Obama last week with a petition of 30,000 signatures to refuse corporate money for the inauguration.
UPDATE II: The Sunlight Foundation’s John Wonderlich said Obama’s decision “bodes poorly for an administration whose first term can be characterized as slowly turning away from a principled approach to money in politics in favor of political expediency and fundraising.”
“The administration asks to be judged in comparison to Bush, saying their record speaks for itself,” Wonderlich said of Obama’s record on transparency. “At some point, though, it’s time to judge Obama in his own words. Obama said unlimited donations sully our democracy, threaten public service, and weaken representation — and has now chosen to embrace them.
“Maybe Obama’s setting the tone for his second term: We’re not worried about whether we look like reformers at all,” he said.
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We are closing schools out here in the weeds. Cutting fire and police. If the rest of us are forced to so with less, so we want to see our elected leaders acknowledge what’s important. OK, millions in donations may help the catering and event businesses in Washington D.C., but the rest of America doesn’t exactly feel like celebrating anything. We still need family wage jobs across America.
Posted by: Stew | December 7, 2012, 2:28 pm 2:28 pm
Obama has principals?
Posted by: Ronna Travali | December 7, 2012, 2:46 pm 2:46 pm
Shocking. Not.
Posted by: Ken | December 7, 2012, 2:46 pm 2:46 pm
More flip-flopping. More lies. Forward!!
Posted by: SBT | December 7, 2012, 2:48 pm 2:48 pm
Yeah lets throw a giant party and take a 4+ million dollar Christmas vacation when millions of Americans dont have a place to live or are in danger of eviction. Millions on foodstamps and unemployed not to mention those who are underemployed or underpaid. This is a big FU to America… How can people still support this joke of a POTUS???
Posted by: Lala | December 7, 2012, 2:59 pm 2:59 pm
“President Obama is dropping his principled objection…”
At what point would the media drop the adjective ‘principled’ from Obama’s many abandoned positions?
When Democrats do something -it’s because they’re principled individuals with a strong moral compass.
When Republicans do something -it’s because they got their marching orders straight from Grover Norquist, Rush Limbaugh, Wall Street, Faux News, the Koch brothers, big oil, etc.
How do Democrat politicians manage to get richer than their Republican counterparts when their motivations are supposedly so much more altruistic?
Posted by: Dalmation | December 7, 2012, 3:27 pm 3:27 pm
Obama is planning to install himself as Americas first Dictator, in January. Right after he returns from his $4 million Christmas vacation in Hawaii!
Posted by: Democrats Against Obama | December 7, 2012, 3:29 pm 3:29 pm
Officials said cost considerations for the 2013 festivities would mean less elaborate events than four years ago. There will not be a star-studded concert on the National Mall, for example, and there will be fewer inaugural balls.
A spokeswoman for the committee said Obama will still not accept donations from lobbyists or PACs, or allow any individuals or corporations to formally sponsor specific inaugural events, such as the parade.
“To ensure continued transparency, all names of donors will be posted to a regularly updated website.”
_______________________________
Good.
Posted by: Sally | December 7, 2012, 3:31 pm 3:31 pm
No inagural balls please – after all didn’t you have one four years ago? Put the money towards the deficit Mr. President, please! Thanks. A Hardworking American
Posted by: Newtonianlass | December 7, 2012, 3:37 pm 3:37 pm
These silly businesses that think they can do business with the devil are foolish. He will turn on them again and again regardless of the money they provide. He is a hard core left winger.
Posted by: Perplexed | December 7, 2012, 3:40 pm 3:40 pm
If you think all of this money is going towards the inauguration and that a big chunk is not going into the private coffers of the First Family, then you probably believe that Nancy Pelosi has never had plastic surgery.
Posted by: Doug Warbinton | December 7, 2012, 3:41 pm 3:41 pm
No inagural balls please – after all didn’t you have one four years ago?
Posted by: Newtonianlass | December 7, 2012, 3:37 pm 3:37 pm
Funny how the wingers think the rules and judgement should be different for President Obama.
Posted by: Sally | December 7, 2012, 3:46 pm 3:46 pm
“Do as I say, not as I do.” Obama
“Oh, and another thing, corporate jets are a ridiculous waste of money, except for mine, of course”.
“Oh, and by the way, while I’m at it, the Republicans need to deal with me in a non-partisan manner, but I won’t deal with them on any level.”
Posted by: Buck | December 7, 2012, 3:47 pm 3:47 pm
It should be a wake, for America.
Posted by: electpatriots | December 7, 2012, 3:48 pm 3:48 pm
It should be a wake, for America.
Posted by: electpatriots | December 7, 2012, 3:48 pm 3:48 pm
Another 146,000 more jobs came on stream last month. Get a job and quit whining.
Posted by: Stu | December 7, 2012, 3:58 pm 3:58 pm
“President Obama is dropping his principled objection…”
.
Not very principled if he changes this easily. But then, his little people populist stance has always been for show anyways.
Posted by: Michelle Shu Jas | December 7, 2012, 4:00 pm 4:00 pm
Obama says one thing and does another. I am sooo confused, I voted for him and now I have regrets.
Posted by: apostleJohn | December 7, 2012, 4:03 pm 4:03 pm
These silly businesses that think they can do business with the devil are foolish. He will turn on them again and again regardless of the money they provide. He is a hard core left winger.
Posted by: Perplexed | December 7, 2012, 3:40 pm
The companies that give the most will be the last one’s put out of business.
Posted by: Dalmation | December 7, 2012, 4:05 pm 4:05 pm
A corrupt president and a corrupt media..this is what America has become
23.5% actual unemployment
Posted by: the sinking of the USA | December 7, 2012, 4:19 pm 4:19 pm
dalmation wrote:”The companies that give the most will be the last one’s put out of business.”
.
In oBama’s home town of Chicago where he cut his little baby teeth on politics, its known as protection money.
Posted by: Michelle Shu Jas | December 7, 2012, 4:25 pm 4:25 pm
And in the true spirit of hatred and obstructionism that is their trademark, the Tea Party will object and insist that taxpayer money be used instead.
Posted by: Dorkus | December 7, 2012, 4:30 pm 4:30 pm
Posted by: electpatriots | December 7, 2012, 3:48 pm 3:48 pm
Another 146,000 more jobs came on stream last month. Get a job and quit whining.
And 370,000 layoffs last week.
Posted by: Concerned | December 7, 2012, 4:32 pm 4:32 pm
What would be funny if it weren’t so sad is Obama actually has his supporters believing he’s something that he really isn’t. James Carville was right when he said that generally, Democrats are less informed as voters than Republicans. They live in an idealistic la la world very much removed from reality.
Posted by: newcountryman | December 7, 2012, 4:34 pm 4:34 pm
President Obama must have learned the “protection racket” from the Chicago Cosa Nostra!
Posted by: Common _ Sense | December 7, 2012, 4:35 pm 4:35 pm
“And in the true spirit of hatred and obstructionism that is their trademark, the Tea Party will object and insist that taxpayer money be used instead.”
Posted by: Dorkus | December 7, 2012, 4:30 pm
No, we’ll insist that people party on their own dime. Obama’s filthy rich, nobody likes to say that, but he is. He got millions of dollars for the books he supposedly wrote, so why can’t he pony up for his own party?
Posted by: Dalmation | December 7, 2012, 4:38 pm 4:38 pm
CHANGE!!
Posted by: Susan | December 7, 2012, 4:48 pm 4:48 pm
LOL! Add hypocrite to panderer.
Posted by: Kathy M. | December 7, 2012, 4:53 pm 4:53 pm
Corporations are people too!
Posted by: newcountryman | December 7, 2012, 5:04 pm 5:04 pm
“Obama is dropping his principled objection to some forms of political fundraising…” Obama principled? That’s like jumbo shrimp or military intelligence…..doesn’t even belong together in the same sentence.
Posted by: newcountryman | December 7, 2012, 5:06 pm 5:06 pm
Ha, he loves that 1%er money when it’s coming his way.
Posted by: dave | December 7, 2012, 5:10 pm 5:10 pm
Waste of time and money. If you are re-elected why do you have to have more inaugural events? Guess you have to thank your donors and special interest groups somehow.
Posted by: NoSpin1600 | December 7, 2012, 5:11 pm 5:11 pm
ELECTPATRIOTS …. Apparently you don’t know or hear about but thousands of jobs are being lost and more job losses are coming in the near future. Because of Obama there are going be job losses due to his defense spending cuts, job losses due to the increased costs of Obamacare, we will be paying higher taxes and higher health care costs with less money to make it. But Obama doesn’t care about the citizens like he claims to or he would make the citizens his top priority and not his vacations or getting more money for himself and the Democrats.
Posted by: s | December 7, 2012, 5:14 pm 5:14 pm
No Spin; Obama still owes tons of money and has actually kept Jim Messina on as his fund manager. Unprecedented. You can still send in money to help bail him out if you’re so inclined.
Posted by: newcountryman | December 7, 2012, 5:15 pm 5:15 pm
I wonder what will happen to job creation if we actually do fall off the cliff? The government might use the revenue to crank up the unemployment benefits and fund those non-existent shovel ready jobs to keep things going. That’s the ticket!
Posted by: newcountryman | December 7, 2012, 5:17 pm 5:17 pm
Another 146,000 more jobs came on stream last month. Get a job and quit whining.
Posted by: Stu | December 7, 2012, 3:58 pm 3:58 pm
You first.
Posted by: Hank | December 7, 2012, 5:25 pm 5:25 pm
maybe we can pass the “corporate hat” around for the costs of war instead of an inaugural address
Posted by: Jim L. | December 7, 2012, 5:26 pm 5:26 pm
Obama says we need to cut spending, schools are being closed, military bases will be closed , health insurance will be going up, taxes will be going up, jobs will continue to be lost all while Obama and his family and the politicians get to still live high on the hog with NO worries at all. What a Pathetic Loser and liar Obama is.
Posted by: obamaisaliar | December 7, 2012, 5:26 pm 5:26 pm
The real Obama coming out of the corporate closet.
Posted by: Commonsenseparty | December 7, 2012, 5:36 pm 5:36 pm
Another 146,000 more jobs came on stream last month. Get a job and quit whining.
Posted by: Stu | December 7, 2012, 3:58 pm 3:58 pm
You first.
Posted by: Hank | December 7, 2012, 5:25 pm 5:25 pm
It’s good to see new jobs continuing to come on stream every month. Glad to see the disaster under Bush is being counteracted.
Posted by: Bonnie | December 7, 2012, 5:52 pm 5:52 pm
My message for both parties is screw you guys for selling us out !!!! Thanks to you few who answer to your corporate handlers we are going to perish as a nation not too long from now.Thanks alot for trashing our constitution and taking our freedoms away.
Posted by: mike | December 7, 2012, 6:09 pm 6:09 pm
Kiss the Presidents ring! He is the only thing between the CEO’s and the angry pitch fork carrying lynch mob !
Posted by: Common _ Sense | December 7, 2012, 6:14 pm 6:14 pm
Another 146,000 more jobs came on stream last month. Get a job and quit whining.
Posted by: Stu | December 7, 2012, 3:58 pm 3:58 pm
And those same 146,000 will be gone once the seasonal help is no longer needed….
Posted by: IMO | December 7, 2012, 6:20 pm 6:20 pm
And those same 146,000 will be gone once the seasonal help is no longer needed….
Posted by: IMO | December 7, 2012, 6:20 pm 6:20 pm
5.5 million jobs created since Obama’s policies kicked in . .. and climbing every month. About a million in the past six months alone.
Posted by: Stu | December 7, 2012, 6:25 pm 6:25 pm
Only half the story Stu….Jobs created – Jobs lost = 0.
Posted by: newcountryman | December 7, 2012, 6:35 pm 6:35 pm
And what “policies” were they anyway Stu?
Posted by: newcountryman | December 7, 2012, 6:36 pm 6:36 pm
Obama reverses his principled stance on corporate contributions. Big surprise.
Posted by: newcountryman | December 7, 2012, 6:39 pm 6:39 pm
Posted by: Stu…..5.5 million jobs created since Obama’s policies kicked in . .. and climbing every month. About a million in the past six months alone….Wow, you really believe all that government propaganda ? No wonder you voted for the empty chair !
Posted by: NOT FOOLED LIKE U ! | December 7, 2012, 6:45 pm 6:45 pm
It’s much easier to fool people than to try and convince them that they’ve been fooled.
Posted by: newcountryman | December 7, 2012, 6:55 pm 6:55 pm
Only half the story Stu….Jobs created – Jobs lost = 0.
Posted by: newcountryman | December 7, 2012, 6:35 pm 6:35 pm
Using January 2009 as a begin date to blame lost jobs on Obama is just plain stupid.
Bush handed Obama a country with an economy in free fall. Hundreds of thousands of jobs were being lost every month by the time Obama was inaugurated.
The momentum from the Bush collapse was just peaking as Obama took office and it continued for months until job losses reversed as Obama’s policies began to kick in.
You expected him to stop this on a dime? Are you that dense, or just being dishonest?
Since then about 5.5 million jobs gained back from the Bush disaster.
Posted by: Stu | December 7, 2012, 7:02 pm 7:02 pm
“It’s good to see new jobs continuing to come on stream every month.”
Posted by: Bonnie | December 7, 2012, 5:52 pm
350K people dropped out of the workforce last month. If this keeps up, we’ll be at full employment in no time!
Posted by: Dalmation | December 7, 2012, 7:16 pm 7:16 pm
A lot of people still without Jobs in this Country.. a lot of people going to have a very hard Christmas… a lot of people in this Country still having to eat in Soup Kitchens… a lot of people in this Country who still have no HC… Don’t you think the money for this Party, that NONE OF THESE people I just mentioned will be attending, and everyone that is Attending can WELL afford all the things these people do not have, could be used to help all these people I just mentioned? I voted for Obama first time.. this is why I did not vote for him this time. Politicians.. all (dem and repub) of them worthless.
Posted by: dbase1986 | December 7, 2012, 7:22 pm 7:22 pm
So Obama hates corporate bigwigs, unless they are lining his pockets or paying for his kingly inauguration…
Posted by: Dave C | December 7, 2012, 8:05 pm 8:05 pm
So Obama hates corporate bigwigs
Posted by: Dave C | December 7, 2012, 8:05 pm 8:05 pm
Wrong again. President Obama has never said that – you said it. President Obama has simply called for a small tax increase on those who prospered most during the past decade while the rest of us got poorer.
Posted by: Stu | December 7, 2012, 8:54 pm 8:54 pm
350K people dropped out of the workforce last month. If this keeps up, we’ll be at full employment in no time!
Posted by: Dalmation | December 7, 2012, 7:16 pm 7:16 pm
If you were better informed, you would be aware the labor force commonly fluctuates by hundreds of thousands of people – up and down like a yo yo – on a monthly basis. It can drop by a hundred thousand one month, and rise by two hundred thousand the next and this happens over and over, month after month.
The figures are available through the Bureau of Labor statistics.
Posted by: Stu | December 7, 2012, 8:58 pm 8:58 pm
Since then about 5.5 million jobs gained back from the Bush disaster.
Posted by: Stu | December 7, 2012, 7:02 pm 7:02 pm
That’s just another dishonest lie. Job creation under Obama is abysmal.
“Between March 2010 and July 2012 (which is actually 28 months), the number of private-sector jobs rose from 106.9 million to 111.3 million, an increase of 4.4 million.
What about Reagan? The low point for employment under Reagan was December 1982, with 72.8 million private-sector jobs. Fast-forward 27 months to March 1985 and the number of private-sector jobs was 80.4 million. That’s an increase of 7.7 million — a far bigger jobs bump than under Obama.
Even more impressively, the Reagan recovery took place within a much smaller economy. The 27-month Reagan recovery represented an 11 percent increase in jobs, compared to a 4 percent increase during the comparable period under Obama.”
- Politifact
Posted by: Bill | December 7, 2012, 11:08 pm 11:08 pm
Of course he reversed himself. He doesn’t have to worry about appearances now. Obamabots were duped yet again, but they’ll defend Obama until the end of time. Stockholm Syndrome is hard to shake.
Posted by: Susan | December 7, 2012, 11:42 pm 11:42 pm
President Obama has simply called for a small tax increase on those who prospered most during the past decade while the rest of us got poorer.
Posted by: Stu | December 7, 2012, 8:54 pm 8:54 pm
I have a lot more wealth than I did 10 years ago. Nobody stopped me from attaining it. If you want to see who stopped you, look in the mirror. I already pay way more in taxes than I will ever collect in government benefits. You’re not entitled to any more of my labor to fund your little utopian experiment. Sorry. I restructured my compensation just lat week. No matter what happens, next year Obama collects much less from, not more. Any government benefits you collect are going to get cut and Obama will be doing the cutting. There’s nothing you’ll be able to do about it. He doesn’t need you anymore.
Posted by: Susan | December 7, 2012, 11:49 pm 11:49 pm
What about Reagan?
Posted by: Bill | December 7, 2012, 11:08 pm 11:08 pm
Reagan’s ‘economic miracle’ was footed by TRIPLING the national debt. If Obama tripled the debt Bush left him (that would take it to about $33 trillion) you can bet there would be millions more jobs.
Posted by: Jim | December 8, 2012, 4:14 am 4:14 am
Since then about 5.5 million jobs gained back from the Bush disaster.
Posted by: Stu | December 7, 2012, 7:02 pm 7:02 pm
That’s just another dishonest lie.
Posted by: Bill | December 7, 2012, 11:08 pm 11:08 pm
It’s the exact truth. Your statement is false.
Posted by: Jim | December 8, 2012, 4:19 am 4:19 am
Dig your own grave!
Posted by: Common _ Sense | December 8, 2012, 8:43 am 8:43 am
51% just dug the grave for us.
Posted by: newcountryman | December 8, 2012, 11:57 am 11:57 am
I can’r believe how much hypocrisy this guy gets away with. His minions are blind as can be.
Posted by: newcountryman | December 8, 2012, 11:59 am 11:59 am
51% just dug the grave for us.
Posted by: newcountryman | December 8, 2012, 11:57 am 11:57 am
Obama didn’t initiate the huge deficits, nor the economic disaster. Those both came into play under Bush.
Posted by: Jim | December 8, 2012, 1:41 pm 1:41 pm
Jim; Get ready for 4 more years of stagnation, high taxes, higher consumer costs, and inflation. Hope you’re ready.
Posted by: newcountryman | December 8, 2012, 3:19 pm 3:19 pm
jim wrote:”Obama didn’t initiate the huge deficits, nor the economic disaster. Those both came into play under Bush.”
.
What was he doing while he was in Congress then…. making speeches? running for president or something?
Posted by: Michelle Shu Jas | December 8, 2012, 5:50 pm 5:50 pm
What a grotesque and moronic farce. Everyone should stay away.
Posted by: Peikoviani | December 8, 2012, 11:37 pm 11:37 pm