Modern political money
[T]he playing field has changed in fundamental ways. In the traditional model, we’d see two major-party candidates, each backed by their respective national party. In 2012, President Obama’s campaign team will effectively have two extremely well-financed opponents: Mitt Romney and the RNC, which are projected to raise at least $800 million, as well as a $1 billion outside attack operation.
Obama, in other words, is going to face a far-right wall of at least $1.8 billion between now and Election Day. To say this is without precedent in a major democracy is a dramatic understatement.
Category: Campaign Finance Reform, Corporatocracy, Corruption, Politics
About the Author (Author Profile)
Erich Vieth is an attorney focusing on consumer law litigation and appellate practice. He is also a working musician and a writer, having founded Dangerous Intersection in 2006. Erich and his wife, Anne Jay, live in the Shaw Neighborhood of St. Louis, Missouri, where they are raising their two extraordinary daughters.
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$1.8 billion? I’ll believe it when I see it. There was nothing preventing this before Citizens United since 85% of the money is coming from individuals. In 2008, we saw about $70 million in outside spending. The biggest super PAC by far is Restore our Future, and it discloses who its donors are. To date, Restore our Future has spent $40 million. Compared to Barack Obama’s $90 million spent so far.