President Barack Obama will be publicly sworn in today - on Martin Luther King Jr. Day - to serve his second term as the 44th President of the United States.
Today is also the three-year anniversary of Citizens United v. FEC, a U.S. Supreme Court ruling that - in a 5-4 decision - deemed that corporations are “people” under the law. Former U.S. Sen. Russ Feingold (D-WI) - who now runs Progressives United (a rhetorical spin-off of Citizens United) - said in Feb. 2012 that the decision “opened floodgates of corruption” in the U.S. political system.
Unlike for his first Inauguration, Obama has chosen to allow unlimited corporate contributions to fill the fund-raising coffers of the entity legally known as the Presidential Inaugural Committee. Last time around the block, Obama refused corporate contributions for the Inauguration Ceremony as “a commitment to change business as usual in Washington.”
But not this time. With a fundraising goal of $50 million in its sights, the Obama Administration has “opened floodgates” itself for corporate influence-peddling at the 57th Inaugural Ceremony.
A case in point: the Obama Administration's corporate backers for the Inaurguation have spent over $283 million on lobbying since 2009, the Center for Public Integrity explained in a recent report.