Money Politics 'Out of Control' in 2016 Presidential Race

Opinion

Source

The Great 2016 Money Chase
US News & World Report

Summary:

The author states the campaign fundraising in the US, particularly as the country heads into the 2016 Presidential elections, has become the equivalent of an 'arms race'.

He states that a total of $4 billion was spent by political candidates and their supporters for the 2014 Congressional elections, with half-a-billion of that spent on negative, so-called 'attack advertising'.

Such is the quantum of spending that a political action committee (PAC) supporting Democrat nominee Hillary Clinton has targeted to raise $500 million for her campaign.

'This has become the equivalent of a money nuclear arms race,' the authors states. 'It resembles the Cold War between the Soviet Union and the United States, except it is about money not weapons. Each side is locked into a rapidly rising fundraising effort that has seen the costs of campaigns more than double from about $3 billion in 2000 to over $6 billion in 2012.

'What is crystal clear right now is that anything goes in our current climate – any amount is fair game – and the likelihood is we will bust all records in 2016'.

 

Thumbnail image: http://401kcalculator.org.

Author(s)
Peter Fenn
Countries/Regions
USA
Published Date
February 12, 2015