Obama 50th birthday bash set for August 3

President Barack Obama.

/ AP

Updated 7:23 p.m. Eastern Time

President Obama is slated to celebrate his 50th birthday with a major fundraiser at Chicago's historic Aragon Ballroom on August 3. A campaign official told CBS News that the campaign is moving forward with the event, though the White House says it could be cancelled if a deal is not reached on raising the debt limit by the August 2 deadline.

As of now, however, the event is "not on hold," the official told CBS News.

Tickets to the fundraiser, slated to take the day before the president's August 4 birthday, are reportedly going for between $50 each to $35,800 for a pair.  According to the Chicago Sun-Times, it will feature a star-studded VIP "birthday concert" -- possibly featuring Jennifer Hudson -- as well as dinner with the president.  

The campaign official disputed that characterization, however, saying the event will feature a hometown crowd and local performers and will be "no different then any other fundraiser."

According to the Sun-Times, the event is scheduled to be "multi-tiered": There will be a 4 p.m. concert for which $50 tickets are available but limited; for $1,000, a donor gets "premium" seating with a "hosted bar," and for $10,000 contributors get "preferred seating" to the concert, along with souvenir photos with the president. There are also General Admission tickets for $200, according to the Sun-Times.

CBSNews.com special report: Election 2012

Assuming the event goes forward, Mr. Obama will not be the first sitting president to celebrate his 50th with a fundraiser: in 1996, then-President Bill Clinton held a gala at New York's Radio City Musical Hall that raked in $10 million for the Democratic National Committee. (Clinton's birthday cake for the event bore the shape of an enormous American flag, and was so big that daughter Chelsea had to help him blow out the candles.)

The Obama campaign has already demonstrated its 2012 fundraising capabilities: Earlier this week, the president's re-election campaign announced earning $86 million from April to June alone - more money than any presidential candidate has ever brought in during that timeframe. Mitt Romney, the putative Republican frontrunner, brought in $18.5 million during the same period.

[Pibbles]

It should be a day of mourning for our country that this moron became president of the US. How many of his racist, anti-American, terrorist buddies from La Raza (La 3rd world cr@p) will be attending his party?

[JoeBoogles]

Happy birthday, O-hole! And thanks for keeping your promise to repeal the WEP and GPO laws: the laws that cause hundreds of thousands of retirees to lose as much as 60% of their EARNED Social Security beneifts. Eat a piece of cake and smoke another cigarette.

[mary-miami]

Happy Birthday President Obama! The best leader the US has had in years. He cares about our nation. Re-Elect President Obama in 2012.

[nomikjustkaty]

I didn't do anything for my Birthday.. oh wait, I spent $66 dollars to take a train from St. Louis to see a concert at the Chicago House of Blues, the concert cost $15 dollars, I didn't sleep that night because I could not afford accommodation's and I needed to stay awake anyway to catch my 6am train back to St. Louis.. This is wrong to have this big bash to celebrate your Birthday on the very day that they project the possibility of people not receiving their retirement and veteran checks that have been paid into and earned their entire lives.. You want to win your campaign Mr. Obama? All you need to do is take all of your fundraising funds and contribute them to reducing our deficit and there will be no need for you to campaign. That will be your campaign.. I'm sure that the people would vote again for a President who would be willing to help along with it's citizens to reduce the deficit..

[Progress4U]

Happy Birthday Mr. President!!!!!!

[SUZAMBA]

And how much is his Birthday Bash going to cost the tax payers?? How can he justify the cost, when the US is going bellyup? It is all so very sicking!

[erasmus111]

Oh shut up! Don't you people ever get tired of whining? I hardly think that the tax payers will be paying for his birthday party.

[lawkwfl]

@ Eramus, actually it could end up costing the taxpayers. Reports estimate it takes between $55000 and $70000 an hour to run Air Force One, not to mention the security details, entourages, local utilities like police, firemen and hospitals who pass that overtime on the WH, etc. It's all tied together. I certainly don't begrudge the POTUS for taking a vacation or even a celebratory night off, but unless he's traveling on official business I think he should foot the bill for a birthday bash.

[retm-w]

Well if crybaby cantor and boehner can walk out of the talks, then their not important so go ahead with the birthday party.