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Even After Reelection, Obama’s Corporate Money Train Keeps Right on Moving


Photo Credit: of america

Just in case you thought that Obama was ready to work for us citizens because he doesn't need to be reelected, get this: The President has set his sights on his “legacy” – inviting presidential historians to dine and asking speechwriters to compose with history in mind. Sounds natural enough, right?

Here’s the rub: Legacies cost money. Big money.

Writing for Bloomberg, Lisa Lerer and Jonathan D. Salant share the happy tidingsof Obama’s never-ending fundraising focus, explaining that the President will launch his legacy-building initiative by giving a great big embrace to Corporate America for his inaguration:

“The former Illinois senator who in 2008 campaigned for president pledging to curb the role of money in politics has decided to accept unlimited corporate dollars for his second inauguration. His shift from four years ago, when he banned company funding, marks an early strategic step toward building the organization that will finance his presidential library, foundation and other post-White House aspirations, advisers say.”

The price tag of the presidential library alone? At least $500 million. And there’s only one way to get that kind of dough now that wealthy supporters of his campaign feel tapped out: corporations like AT&T and Microsoft. (Clinton got a lot of his library cash from the Bank of America Foundation and Cisco).

Companies that fork over all these dollars, of course, often have agendas to push in Washington – a situation that most certainly spells conflict-of-interest. But not to worry! The White House has announced that its lawyers would vet each donor and make very sure no such nasty things happen. What a relief.

Perhaps Obama could simply affix the logos of these companies to his lapel during the festivities. Or maybe sell naming rights to the party: The Microsoft Presidential Inaguration 2013. At least that way we'd be clear whose business comes first.