A seat at a state dinner is a relatively painless way for presidents to thank supporters and a time-honored perk of donordom. But Mr. Obama has a particular large group of friends to thank: He has been holding fund-raising events at a far more rapid pace than his predecessors, hoping to build a cash advantage that will carry him to re-election this fall.
I’ve said that his furious schedule of fundraisers is driven less by a need for campaign cash than by his ego’s need for constant praise and adoration.
Notice this detail as well:
Mr. Obama also invited Hamilton E. James, Jr., the billionaire second-in-command at private equity company Blackstone, who Obama allies have been avidly courting as a potential fund-raiser and donor.
I guess that’s one way for the richest 1 percent to pay their fair share.