Trump raises millions to cover inauguration's steep costs

The inauguration of a new president requires the recitation of a 35-word oath. That's it. Dress it up with some hoopla and glitz, though, and pretty soon you're talking real money.

Donald Trump will have it to spend.

Trump's Presidential Inaugural Committee has raised a record $90 million-plus in private donations, far more than President Barack Obama's two inaugural committees. They collected $55 million in 2009 and $43 million in 2013, and had some left over on the first go-round.

But while Trump has raised more money for his inauguration than any president in history, he's aiming to do less with it. Lead inaugural planner Tom Barrack said this week the Trump team wants to avoid a "circus-like atmosphere" in favor of a more "back to work" mindset that surrounds Trump "with the soft sensuality of the place."

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