For a man who talks about times being tough, he sure knows how to spare no expense… Daily Mail UK
Barack Obama’s inauguration is set to cost more than £100m making it the most expensive swearing-in ceremony in US history.
The President-elect will take less than a minute to recite the oath of office in front of an estimated two million people in the US capital next week.
But by the time the final dance has been held at one of the many inaugural balls the costs for the day will be a staggering £110m.
The cost was revealed as Mr Obama scrambled to answer questions about the nomination of Treasury Secretary pick Timothy Geithner.
President Bush declared a state of emergency in Washington – because so many people were expected to attend the inauguration.
In doing so he paved the way for unlimited funding to be released to those local authorities responsible for staging the event.
A president mostly uses the power to declare a state of emergency during a crisis, such as a hurricane or other natural disaster.
The bulk of the cost for the event will be on security with more than 10,000 police and troops forming a ring of steel around Washington DC.
Obama has managed to raise £30m towards the cost of the event with a host of Hollywood stars, including Sharon Stone and Halle Berry, contributing the maximum amount of £33,000.
His money will fund many of the extravagant balls and also for giant TV screens to be placed along The Mall to allow visitors to witness the historic moment when America swears in its first black president.
