$160 million is less than 2% more than Bush spent
There's been a lot of whining from the whiners about having such an extravagant inauguration during the Bush Recession but really, for an event that will be attended by five-times as many people as Bush's 2005 event, spending less than 2% more than the $157 million Bush spent is one hell of a deal.
And besides, just think how much better of a man we're getting this time!