His Fundraising Machine Turns to Transition, Inaugural

But watchers holding Obama to transparency
By Harry Kimball,  Newser Staff
Posted Nov 19, 2008 1:26 PM CST
President-elect Barack Obama in Chicago earlier this week.   (AP Photo)
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(Newser) – Barack Obama is in fundraising mode again, this time for his transition and inauguration, CNN reports; many hope he will honor his promise to steer clear of special interests and big corporate donors. Though there is almost $10 million in public funds available for transition spending, experts say that’s insufficient. Obama cannot use leftover campaign funds for other purposes.

“I really do hope Obama sticks by his principles and does not accept corporate money,” one watcher said, referencing a promise of “the most open and transparent transition in history.” By comparison, President Bush raised almost $43 million for his second inauguration, mostly from corporations. Obama’s leftover campaign funds, about $45 million, could be kept in a war chest for a second-term run.