Who can turn ten thousand dollars into $27 million? Famed investor Warren Buffet? Billionaire software mogul Bill Gates? The accounts payable department at The Outrage?
Would you believe Bill Clinton and his fellow Democratic party fund-raisers? Not only did they perform amazing investment tricks, but they also made Hollywood accountants look like rank amateurs in terms of transferring costs.
Where else but in the magical world of the White House could you throw fund-raising events that only cost $150? Yes indeed, despite the multi-million dollar cost of maintaining the world’s most prestigious address, the hordes of secret service agents, the employees at your beck and call — despite all that, the Democratic National Committee only paid about $10,000 to use the White House to host 70 fund-raising coffees.
Some of these fund-raisers really do lend credence to the idea that Clinton and Gore have reinvented government — and perhaps cost accounting too. The total cost of one coffee, or the amount reimbursed by the DNC to the government, was nine dollars and thirty cents, equal to 55 cents a cup. Yet it raised over $400,000. Starbucks could never do that!
Yet while keeping costs down to a minuscule ten grand, the coffees were able to raise over $27 million dollars. Either the White House serves a very exceptional brand of java, or some people thought that the chance to talk to the president was worth a very substantial donation to the DNC.
Not only is the president a much more savvy investor than you thought, but he’s trained the vice president. Gore and his wife Tipper hosted 28 coffees at the White House, the Old Executive Office Building, and the Naval Observatory, and they paid nothing for the use of these taxpayer financed facilities. What a deal!
And you thought politicians don’t understand business.