By Kevin Anderson
BBC News website, Washington
With an estimated price tag of $40m, the three-day celebration that is President Bush's second inauguration will be the most expensive ever.
The lavish dinners, parties and fireworks began on Tuesday and will continue through his swearing-in on Thursday, followed by a parade and nine official inaugural balls.
The cost will be paid by individual and corporate donations, while the city of Washington is being asked to pay for an estimated $17m in security costs.
Concerts and balls began on Tuesday
Some have criticised the expense, questioning the propriety of a flashy celebration as US troops are dying in Iraq and South Asia still recovers from last month's deadly tsunami.
The overt criticism of an inauguration is unusual, but a Washington Post poll found that a majority of Americans would prefer a smaller, more subdued event.
Big money donors
The biggest ticket was on Wednesday at the Texas State Society's Black Tie & Boots Ball.
Preparations started the day before the event to prepare 21,000 enchiladas, 20,000 quesadillas, 25,000 pastries, and 3,000 lbs (1,360kg) of beef barbeque.
A day earlier, Mr Bush paid tribute to the military's men and women with a free concert.
Bush honoured the military in a pre-inauguration event
"As we prepare to celebrate our nation's 55th presidential inauguration, I can think of no better way to begin than by giving thanks for our freedom and those who make it possible," President Bush told a crowd of 7,000 on Tuesday.
The free event was part of the military focus, but it was also used by inaugural organisers to deflect criticism of the inauguration as overly extravagant.
On Wednesday evening, President Bush hosted three candlelight dinners with the individual and corporate donors who helped pay for the festivities.
The list of donors is full of big-name corporations and top Bush fundraisers - the campaign's "pioneers", who raised $100,000, and the "rangers", who raised $250,000.
$250,000 DONORS INCLUDE
Energy: ChevronTexaco, Exxon Mobil, Occidental Petroleum, Hunt Consolidated, New Energy Corp
Finance: Bank of America, Ameriquest Capital, Sallie Mae, Long Beach Acceptance Corp
Pharmeceuticals: Pfizer, Bristol-Myers Squibb
Other: AT&T, Time Warner, Ford Motor Company
Political reform advocates say the corporations stand to benefit from Mr Bush's proposed energy policy, his efforts to reform immigration and proposals to partially convert Social Security, a state pension scheme, into private investment accounts.
Defence giants Northrop Grumman and Lockheed Martin each gave $100,000 to the inaugural committee, and oil companies ChevronTexaco and Exxon Mobil each gave $250,000.
Both Coca-Cola and its rival Pepsi gave $100,000, and the Marriott and Ritz-Carlton hotel groups each gave $250,000.
Those who contribute $250,000 received tickets to a number of events over the celebration, including the swearing-in ceremony, the inaugural parade, and an exclusive luncheon with President Bush and Vice-President Dick Cheney.
And they received tickets to one of the nine balls marking the inauguration.
While numerous, the number of balls is five shy of the record 14 balls held for Bill Clinton on the night of his second inauguration in 1997.
King for a day
But it's not just balls and private dinners: For the inaugural attendee with money to burn, Washington hotels are offering pampering packages.
If you want to walk a mile in George Bush's shoes, you can stay at the Fairmont Hotel and buy their "President for 4 Days" package.
For a mere $10,000 (£5,350) a night, you get your own faux Secret Service detail, with two actors pretending to be your presidential bodyguards.
If you really want an inauguration to remember, the Mandarin Oriental Hotel is offering a four-night package for the princely sum of $200,500 (£107,300).
For that, private jet service will whisk you to Washington where you'll be met by your chauffeur-driven Maybach super-luxury sedan.
When you're not dancing the night away at the inaugural balls, you can lounge in the 3,500 sq ft presidential suite with champagne and caviar served nightly at dusk.
But with the recent tsunami in the Indian Ocean and the ongoing war in Iraq, some think the expensive inaugural is an inappropriate, ostentatious display.
"Precedent suggests that inaugural festivities should be muted - if not cancelled - in wartime," New York Democrat Representative Anthony Weiner said in a letter to President Bush.
The city of Washington DC has been asked to pay security costs
He noted the money could be used to buy 690 Humvees and pay for a $290 bonus for each soldier serving in Iraq.
And city officials in Washington are complaining that for the first time the city and not the US government is being asked to foot the bill for the security operations.
Some Republicans say that criticism of the inauguration is mere political partisanship and ask why there was no criticism of the cost of President Clinton's inaugurations.
Bill Clinton's first inauguration cost $30m, which was comparable to the inaugural costs of George HW Bush in 1989. His second inauguration cost $23.6m.
But a Washington Post-ABC News poll found that two-thirds of Americans think inaugural festivities should be scaled back. That includes half of those who voted for President Bush and 80% of John Kerry's supporters.
President Bush defended the pomp and parties, saying in an interview with US network CBS: "You can be equally concerned about our troops in Iraq and those who suffered in the tsunami while celebrating democracy."