In 2005, President Bush used $42.8 million from corporate sponsors to fund his inauguration. With only $9.74 million of public money at his disposal, and rules against using money left over from the general election for transition, President-elect Obama must renew fundraising efforts for his January 20th move-in date.
Obama is having a tough time avoiding corporate money, according to CNN.
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Thanks to rising oil prices, Iraq will enjoy a $79 billion surplus by the end of the year, according to a report requested by a bipartisan group of senators. While the US has spent $48 billion in American taxpayer money on Iraq's reconstruction since 2005, Iraq has spent only a fraction of its oil revenue on reconstruction projects. And, Iraq spent only 1 percent of its 2005-2007 budget to maintain existing projects already funded by Americans or Iraqis.
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Congress will withhold $5.8 billion in New Orleans flood-defense funding because Louisiana has not offered the $1.8 billion match necessary to trigger federal funds. The Army Corps of Engineers will not go through with levee and other construction projects necessary to prevent another Hurricane Katrina.
Louisiana, one of the poorest states in the nation, wants the feds to give the state 30 years to pay their share.
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