£120m cost of flying the flag

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Four years after the Democrats complained that George Bush's inaugural committee spent too much at a time of war, the Obama committee is spending even more.

This is despite two wars being fought and the country plunging into the worst economic crisis since the Great Depression.

Click here to see a gallery of images from Barack Obama's big day

The smallest bill is for the formal swearing-in ceremony which is costing £800,000 and includes the construction of elaborate wooden seating and stages. Far bigger is the cost of renting portable loos for up to two million people, placing 20 giant screens and holding four days of public events and appearances. Sunday's We Are One concert starring Bruce Springsteen and Stevie Wonder was reckoned to cost £34million to stage and secure.

In addition to the public events, there will be 10 official inauguration balls tonight where President Obama will meet the powerful and famous.

The government is spending £33million while Washington and surrounding states asked for £51million towards their bills for police, fire and medical services.

Obama spokesman Linda Douglass defended the spending, which will be met by a combination of private donors and the taxpayer, on the grounds that this inauguration is open to more Americans to take part than any other.

"The money is going toward providing events which we hope are going to connect people, make them feel like we are all in this together and reinforce the notion that when we pull together, we're stronger," she said.