The ornately decorated Aragon Ballroom, where the lavish birthday party is being held_President to host massive birthday dinner in Chicago this evening, featuring a star turn by singer Jennifer Hudson
_Held at $40,000 a night ballroom with tickets $35,800 per person
_1,167 house parties organised across country in his honour
_As if that wasn't enough, 'intimate' party on White House lawn planned for tomorrow
_Tea Party plan to protest outside tonight's party
_Celebration despite major blow as Chinese leading credit agency downgrades U.S. rating
_Stock market on longest losing streak since meltdown three years ago
August 3, 2011
The economy is threatening collapse despite the emergency debt legislation he signed off yesterday.
So, with hindsight, President Obama rushing off for a lavish 50th birthday party in his honour - starring Dreamgirls singer Jennifer Hudson - was probably not the most sensitive idea.
There has been speculation for days as to whether the President was going to make it to his own fundraising 50th birthday party - a plush affair at a $40,000 a night ballroom in Chicago.
But with the President signing off the debt deal yesterday after the bill went through the Senate at the last minute, it finally appears as if the party is back on.
The party comes as fears intensified that the debt deal will not stave off a credit rating disaster.
As an official downgrade of the country's crucial AAA rating inches closer, the leading Chinese credit agency announced a slide from A+ to A, citing doubts over Washington's ability to pay off its debts.
Meanwhile, yesterday's debt deal triggered gloom in Wall Street where the stock market is on its longest losing streak since the financial meltdown of 2008.
The Dow Jones yesterday had its worst day in more than two months, and closed below 12,000 for the first time since June 24.
It seems, however, that the small matter of a multi-trillion dollar debt crisis was not going to stop the President pulling out all the stops.
Helicopters could be heard over the Chicago lakefront as authorities performed security drills in preparation for the Mr Obama's visit, scheduled for 6pm this evening.
The celebrity-studded event, which will be held at the exclusive Aragon Ballroom this evening - the day before President Obama's birthday - is scheduled to feature star singer Jennifer Hudson.
Also set to perform for the President are jazz musician Herbie Hancock and trendy punk rock band OK GO.
Tickets for the fundraising dinner cost an astonishing $35,800 a person. Additional contributions of $50 will gain entry to the concert with limited seating, while $1,000 donors receive 'premium' seats for President Obama's birthday.
$10,000 tickets include 'preferred' seating along with the chance to take a photograph with Obama.
While some might say the U.S. debt pool could do with the thousands, all proceeds will instead go to the campaign to re-elect the President in 2012 and to the Democratic National Committee fund.
Many have opposed the President's lavish plans for his birthday at a time of such economic uncertainty. the Tea Party is planning a protest outside the event while Mitt Romney has launched a campaign highlighting high levels of unemployment in Chicago to coincide with the party.
Meanwhile, the President will speak via web video at the event to supporters at 1,167 house parties across the nation - all staging gatherings in his honour tonight.
The parties, promoted by his 2012 campaign team, are celebratory events aiming to honour the President and spark grass roots support for his re-election campaign.
Surrogates will fan out in seven cities to headline funders on Wednesday also pegged to Obama's birthday.
http://www.dailymail.co.uk/news/article-2021286/US-debt-ceiling-deal-President-Obama-celebrates-Jennifer-Hudson-50th-birthday.html#ixzz1U037maXT
