That’s how much money Super PACs (political action committees) have raised over the past two years alone.
Amassed and spent for political attack ads. I could pontificate at length about what this absurd amount of money could have provided our society, but instead I’m going to give you the next three lines to imagine how you would have spent it.
And we’re back. The most troublesome thing about this
speech money, aside from its sheer volume, is the source of the cash. About half of the $181,000,000 comes from just 200 uber wealthy donors. The bulk comes from just 37 people who each gave $500,000. Thanks to those generous – and no doubt magnanimous, no-strings attached – contributions, some of those 37 people have placed themselves squarely in line for a whole lot of White House M&M’s.
This report comes on the heels of President Obama endorsing the use of a Super PAC to support his re-election campaign. That’s right, the record-shattering $745,000,000, which doubled Senator McCain’s ultimate haul, he managed to drum up for his successful Presidential bid in 2008 wasn’t going to do it this time around. Which makes me question if President Obama has ever heard of the bully pulpit.
This isn’t the only time President Obama has retreated on a campaign finance pledge. In 2008, he said
“I have been a long-time advocate for public financing of campaigns combined with free television and radio time as a way to reduce the influence of moneyed special interests…. My plan requires both major party candidates to agree on a fundraising truce, return excess money from donors, and stay within the public financing system for the general election….If I am the Democratic nominee, I will aggressively pursue an agreement with the Republican nominee to preserve a publicly financed general election.”
He reneged on that promise and blew past McCain in fundraising and spending and *Spoiler Alert* he won – in a modern day landslide. Despite an apparent recent turnaround, it doesn’t seem like the President is taking any chances when it comes to re-election. Not with the Mitt’s charisma or Santorum’s electability awaiting him in the fall.