Inaugural Committee Rolling in Cash

WASHINGTON -- While most Americans are pinching pennies, the Presidential Inauguration Committee is counting its cash.

In new figures released Wednesday, the committee revealed that sales of Barack Obama souvenirs netted $2 million for their organization. When added to the $53 million in donations that the committee disclosed earlier this week, the total inaugural fundraising figure now stands at $55 million.

Even better for PIC, the money is not taxable and the inauguration only cost the committee about $50 million.

Among the items that helped rake in the dough were clothing, jewelry, glassware, artwork and even piggy banks featuring the President Obama's image -- how appropriate.

President Obama's fundraising figures beat those of former President George W. Bush. He raised between $40 million and $42 million for each of his inaugurations.

Copyright AP - Associated Press
Contact Us