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Recession-Proof: 2010 Campaign Spending Breaks Records

1 year ago
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The long arm of the lingering recession doesn't reach into politics, with campaign fundraising and spending records being set in House, Senate and gubernatorial elections this year, The Associated Press reported Tuesday.

Financial disclosures show that congressional candidates have raised nearly $1.2 billion so far, outpacing fundraising in the last three election cycles going back to 2004.

"We may be on track for the most expensive cycle ever, even more than '08, which is really hard to believe," Michael Toner, a former Federal Election Commission chairman, told the AP.

Record-breaking amounts of money are also flowing into 37 governors races -- from the major parties, private donors and outside groups such as political action committees and labor groups. In California, Republican Meg Whitman (pictured), the former Ebay chief, has spent $104 million of her own money on her campaign against Democrat Jerry Brown.

A major factor affecting campaign money may be the recent Supreme Court ruling that allowed unions and corporations to spend more freely on ads in national campaigns. Instead of getting overtly political, corporations are largely funneling their cash to trade associations such as the U.S. Chamber of Commerce, the AP said. The Chamber could spend up to $70 million in 2010.

And because the law is so new, the FEC hasn't yet written rules on how to apply it. That means corporations and other groups will use the 2010 cycle to test the waters -- and really ramp up their donations in future elections.

"My guess is we're going to see more corporate money spent on elections," Larry Noble, former general counsel at the FEC, told the AP. "If it's successful and you don't see a lot of real pushback, then in 2012 you'll see even more of it. So this is a test election."

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16 Comments

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Heidiho

Her ego is bigger than her bank account so she will spend as much as she can to buy the Governors seat. I hope every penny she put into her campagne is spent and helps our economy. Thanks Meg, we needed that. Money well spent even though you won't win.

October 01 2010 at 4:50 PM Report abuse +1 rate up rate down Reply
saljfaj

It's wise to spend a lot of your money to help AMERICA by replacing a bad politician.Some people lack wisdom but this woman doesn't.

September 27 2010 at 2:19 PM Report abuse rate up rate down Reply
whalebale

I am so sick of career politicans that once elected forget about the PEOPLE that put them in office. Jerry Brown had his chance at the governorship for two terms and he certainly left his damage. No Brown rerun for me as a native Californian. I'm taking my chances with Meg Whitman a business woman. If she can even make California business friendly again, she would have proven herself effective.

September 23 2010 at 11:06 PM Report abuse +2 rate up rate down Reply
sitokhan1

Meg Whitman has spent $120 million to get a governors job that pays $200,000 a year. And she says she should be in office because she knows how to handle money!???

September 23 2010 at 6:55 PM Report abuse rate up rate down Reply
vicbar88

I find it amusing to see how these politicians spend, throw away, and just plain blow so much money then turn around and claim to be responsible custodians of the people's tax dollars. All that money sure could actually do some good if spent on projects to help the people. Bragging and showing off how much is blown on these campaigns is nothing less than retarded.

September 17 2010 at 7:25 AM Report abuse +1 rate up rate down Reply
bayconnect

Anybody that believes that a person does not vote in elections, but is now willing to spend $119 millions or more to get elected for the public's good is smoking something. Name five business executives that would spend that kind of money for the public good. Meg's name would not be one of those!

September 16 2010 at 11:26 PM Report abuse +4 rate up rate down Reply
falconsso

It is sad that all of those millions of dollars are not spent on the American taxpayer, providing them with reduced medical costs, near free public transportation and other things. Politicians should hang their head in shame.

September 11 2010 at 9:35 AM Report abuse +2 rate up rate down Reply
Cat

What we are seeing is exactly what we should be deathly afraid of. Our shallow thinking Supreme Court has ruled, in its failure to recognize fantasy, that businesses, corporations and all, are to be treated as if they were human beings. My biology, ethics, humanities and philosophy teachers all are in total shock (to say nothing of my other instructors who have fainted dead away). Can it possibly be any kind of common sense to accept a entity of any kind, that haqs no brain, no heart, no lungs, etc., etc., as a "human being"? Only in the worlds of science fiction and fantasy could this be accepted. What we need are strong, unafraid legislators who will enact a law, or series of laws, denying that companies and/or corporations are equal to human beings and may NOT under any circumstances be allowed the privileges and rightsw that belong to We, The People. Contact your representatives and let them know that you consider a souless, uneducated and bodiless corporation only a business with absolutely NO human rights that belong to human kind. Challenge them to try and convince you that you are no better than Comcast, General Motors or The Huffington Post. Never mind your political affiliation, because I can guarantee you that if you do not stop this attack on American humanity, it will not matter what party you believe in, nor what party you would like to see running our country. Help defend America. Tell your Congressmen how you feel.

September 08 2010 at 7:51 PM Report abuse +5 rate up rate down Reply
Ed

Have you seen Meg's latest add? Take money from the poor on welfare and give it to the California Universities, but by no means tax the rich. This way the wealthy CEOs will get the benefit of an educated pool of potential employees paid for by the lower classes. Way to go Meg, you are a true "protect the rich", Republican.

September 08 2010 at 1:56 PM Report abuse +2 rate up rate down Reply
pgbrooke

If Witman was an altruist instead of an egotist, think of the good she could have done with $104,000,000. What a shame ...

September 08 2010 at 1:19 PM Report abuse -1 rate up rate down Reply
1 reply to pgbrooke's comment
evc90

Just think, if Meg Whitman is spending her own money on this campaign it must mean that she doesn't owe any special interest groups anything that may not be a benefit to California. Hmm..appears that Meg Whitman is nobody's ***** and has the desire to get the job done. Even if it means spending her own money. What a concept.

September 16 2010 at 9:30 PM Report abuse +1 rate up rate down Reply

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