Editorial: Price of inauguration fits today's standards
Jan. 21, 2009
 Lariat Staff |
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And with a much larger price tag.
Last week, the Associated Press reported that Obama's swearing-in ceremony would fetch between $140 million and $160 million -- more than $100 million more than former President George W. Bush's 2005 ceremony.
While it is true that the total price of the ceremony is somewhere in that range, the reporter included the government payout, the private sector's contribution and even additional security costs. However, security concerns and other additional elements are not historically figured into the final tab, because prior to Sept. 11, 2001, security at such an event did not entail such a large portion of the nation's funds.
According to Eric Boehlert of Media Matters for America, which is a Web-based media watchdog site, when those funds are subtracted, the estimate falls somewhat closer to $45 million, which is well within the range of the last inauguration's costs.
The New York Daily News puts the figure at $49 million, slightly higher than Bush's 2005 cost of approximately $40 million
Sure, $45 million to $49 million might sound a bit excessive, especially with a down-trodden economy looming over the horizon, but take into account why such an event is important.
From a purely fiscal perspective, the gala and week-long festivities help to eliminate economic stagnation in the greater-D.C. area. One of the major struggles during such a tumultuous time is that people horde money.
The reported number of people that descended upon National Mall for the inauguration fluctuates as sources such as the Associated Press reported more than 1 million people, while the Washington Post Web site cited nearly 2 million. With this many visitors, Washington D.C., will surely get an economic boost.
Forbes magazine predicts a direct impact of $1 billion in the region and an additional billion in indirect spending through hotels, airlines and other corporate expenses. Compare that with the NCAA basketball tournament's Final Four, which grosses approximately $110 million for the local economy, or the Super Bowl, which has topped out at $400 million, and the financial fluidity of Obama's inauguration is astounding.
While those numbers are predictions, and are probably exaggerated to some degree, the effect can easily be seen. Even if the predictions are off by a factor of 10, which is highly unlikely, that still would provide an economic boost to the nation.
The United States' government has increased inauguration allotment every year since the days of Jimmy Carter. According to USA Today, Ronald Reagan netted $16.3 million, George H. W. Bush clocked in at $28 million and Bill Clinton climbed to $33 million. The younger Bush's 2001 price tag fell to $30 million, but increased by $10 million in 2005.
The United States' Congress shelled out $49 million for Tuesday's event, according to the New York Daily News, which in the larger view is just an extension of larger and larger ceremonies.
However, what separates this ceremony from those in the past is the historical significance of such an event. Whether or not Obama was your presidential pick, his election serves as a ground-breaking moment. Because of this, more than a million people will be in Washington, D.C., to witness the event.
The last time more than 1 million non-natives flooded the National Mall for an inauguration was in 1963 when 1.2 million citizens attended former President Lyndon B. Johnson's inauguration.
So, is $45 million to $49 million excessive? Not in the grand scheme of things. Not when you consider that this inauguration has symbolic meaning, beyond that of a first black president, but of nation's eagerness and readiness for change, for something different from the past eight years. It's this enthusiasm from voters across the country, in a time of difficulty, which deems this inauguration, even with its higher price tag, all the more necessary.
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