Saturday, June 30, 2012

Campaign Financing - Foreign Dollars in play

Progressives were up in arms after the United States Supreme Court ruled that Corporations have the right to run ads for or against candidates as well as contribute money to Super PAC's. The Citizen's United case paved the way, and the recent ruling by the SCOTUS this past week, for a large influx of money and energy to be poured into every campaign in the United States. A prime example is the recent recall attempt of Governor Scott Walker in Wisconsin.

The recall election saw pro-Scott Walker camps outspending anti-Scott Walker camps nearly 8 to 1. Progressive pundits claimed that the large difference in money spent was the main contributor to Governor Walker remaining in office. Progressives are upset because their Union coffers no longer give them an advantage with the decision of Citizen's United.  One of the fears discussed after Citizen's United was the influx of foreign cash into campaigns.

To date the Democrat National Party has raised over $335M while the Republican National Party has raised over $320M. PAC's have raised, collectively, just as much as both parties. Unfortunately I couldn't find a breakout of the PAC's based on who they backed on the Federal Election Commission website (www.fec.gov). All this being said, George Clooney will be assissting President Obama in Geneva, Switzerland to raise "euro-cash" for re-election. http://www.fec.gov/disclosure/partySummary.do?cf=phome

First, Progressives rail against the lost monopoly of Union warchest with the upholding of Citizen's United. Now, Progressives are bringing in foreign dollars and influences which they said Conservatives would do with the Citizen's United decision. When will the Federal Election Commission rule that no money but a small stipend from the Federal Government may be spent on elections? Even though I contend that every American has the God given right to voice their opinion in favor or against a candidate, I do draw the line at foreign influences. I do acknowledge that both sides are guilty too.