Barack Obama’s inauguration is a multi-day extravaganza filled with Hollywood stars and unprecendented levels of security. The cost for all of this? Some estimates say $150 million. Most of this will be paid for by YOU!

President Obama

President Barack Obama In Very Expensive Wax

As reported in, the price tag for President-elect Barack Obama’s inauguration gala is finally getting some mainstream press attention. According to Yahoo news, the total price tag will be approximately $150 million. Obama’s inaugural committee has raised more than approximately $41 million to cover the costs of many of the events, including the star-studded concerts. Television broadcast deals will also recover about $5 to $15 million.

However, the rest of the price tag, including hefty costs for security and transportation, are being covered by taxpayers. As reported by CNN, security for Obama’s inauguration is unprecendented both in scope and cost because of the size of the events. All the overtime, supplies and necessities for those guards are coming out of the pockets of U.S. taxpayers.

In the past, Presidents showed restraint when being inaugurated during wartime. Franklin Delano Roosevelt reportedly served chicken salad and pound cake to a small group of guests in 1945. President Woodrow Wilson did not have any inauguration ceremonies during World War I.

Not only is the country at war in two different countries, it is suffering through the worst financial crisis since the Great Depression. Yet, Obama is not showing restraint, but going forward with four very expensive days of ceremonies, galas and celebrations.

Obama’s spokespeople have publicly stated that the inauguration is historic and the celebration should reflect the importance of the moment. However, in these troubled times, shouldn’t the President show some leadership by being restrained and humble? Yes, he is the first African American president, and that is historic. But equally historic are the trillion dollar deficit, two wars, and double-digit unemployment that he is facing. Shouldn’t his administration tighten the belt like the rest of us, until times are better?

Photo:, Barack Obama