Fiddling while Rome burns

In light of all the economic turmoil we are presently experiencing, if I were about to be inaugurated as the 44th President of the United States of America, I might think it wise to tone down my inaugural ceremony just a tad.

It seems that Obama is choosing the opposite course by allowing it to become the most expensive swearing in ceremony in history.

Barack Obama's inauguration is set to cost more than £100m ($146 million) 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 ($160.6 million).

So many people are expected in the U.S. capital that President Bush declared a state of emergency.

In doing so he paves the way for unlimited funding to be released to those local authorities responsible for staging the event. (who says democrats and republicans can't work together? -ed)

Washington Mayor Adrian Fenty revealed that is the amount that will be billed in the days after the January 20th event. US authorities had previously budgeted just £10m ($14.6 million) for the day based on previous inaugurations for George Bush and Bill Clinton.

Though questions remain as to the legality of the means utilized to raise the money, the fact is Obama raised $741.7 million during his presidential campaign. His inauguration is set to cost 10 times as much as his most recent predecessors. It might be a good idea to use part of the $30 million left in his campaign coffer to help pay for this historic moment since a token show of fiscal restraint seems like too much to ask.

Ah well, party on faithful! Enjoy the moment, because I have a suspicious feeling that Inauguration Day may be the high point of the Obama administration.