4/27/12

Neither Obama or Romney Take Free Election Money

This looks the first election where neither candidate will accept presidential matching funds to finance their campaigns.

On the surface, you say great, its a waste of taxpayer money anyway but not so fast.  

The Watergate scandal produced the system, starting in 1976 whereby candidates are allowed to use public funds to finance their campaigns.  The first to forego was Steve Forbes since he had his own fortune to spend on his campaign.  This year the matching funds would have been around $90 million.

But in the 2012 election to come, $90 million is a pittance.  Both candidates will reject public financing, instead opting for private donations which comes with no spending limits or rules and we can thank the 2010 citizens united supreme court decision for this.

Analysts expect each campaign to spend close to a billion dollars bashing each other.  

I just wonder what governing will be like after this.  It's safe to say it won't be easy!

1 comment:

  1. Yes, governing will be impossible because both sides will have sufficiently destroyed the other guy / party and whatever political power left over will go to paying back the corporations that funded the campaigns.

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