Thursday, June 07, 2012

Romney campaign outraises Obama in Big Money

This is from Talking Points Memo:
Mitt Romney and the RNC raised $76.8 million in May, easily outpacing $60 million from President Obama’s campaign and the DNC. With outside conservative groups alone already outspending the Obama campaign in swing states and Democrats begging donors for help, the money race is tilting quickly toward the GOP.

Romney and the RNC now have $107 million cash on hand, with $12 million of their monthly haul coming from donations less than $250.

 “We are encouraged by the financial support from a broad range of voters,” Romney’s National Finance Chairman Spencer Zwick said in a statement. ”To them, whether they are Republican, Democrat, Independent, a first time political donor, or a former Obama donor, this is not just a campaign; it’s an opportunity for the country. It is clear that people aren’t willing to buy into ‘hope & change’ again. Voters are making an investment because they believe that it will benefit the country.”

The Obama camp minimized the gap, with press secretary Ben LaBolt tweeting that it was expected now that Romney has entered the general election and can collect a new round of maximum donations from his top primary backers. As TPM previously reported, this is especially relevant to Romney since his new joint Victory Fund with the RNC can take donations of up to $75,800, far above the primary campaign’s $2,500 limits. It’s possible Romney’s latest haul is a one-time trick that represents these big money backers making their investment in the general election, but combined with Republicans’ success luring a handful of billionaires to single handedly match Obama’s own spending, it looks like trouble for Obama ahead either way.
Again, we're looking at the effects of Citizens United, where corporations and billionaire donors can buy their own elections.  Out of the $107 million in the Romney and RNC campaign coffers, only $12 million came from donations of $250 or less.  Small donors are not giving to the Romney campaign--corporations and the super rich are.  And with Romney out raising President Obama in the money field, you can bet that Romney will be spending a good chunk in negative advertising to smear Obama, while refusing to tell the nation's voters his vision and policy issues when he is elected.  Mitt Romney is an empty suit, just waiting to be instructed by his overlords, once he gets into the White House.  And with the kind of money Romney is raising, this could become a disaster for the country.

Then again, we have the best democracy that money can buy.  Those without the money are screwed.

Money won in the Wisconsin recall elections

This is from the Washington
If the Wisconsin recall battle was a test of the power of political spending, the big money won big.
Republican Gov. Scott Walker, who survived an effort by the state’s Democrats to unseat him in a special election on Tuesday, outspent his opponent by more than 7 to 1 and easily overcame massive get-out-the-vote efforts by Democrats. The recall contest ranks as the most expensive race in Wisconsin history, with the candidates and interest groups spending more than $63 million combined.
Walker was bolstered by wealthy out-of-state donors who gave as much as $500,000 each under state rules that allow incumbents to ignore contribution limits in a recall election. He raised $30.5 million, while his Democratic challenger, Milwaukee Mayor Tom Barrett, raised $3.9 million, according to data compiled by the Wisconsin Democracy Campaign.
The big spending was made possible in part by the landmark Supreme Court decision in Citizens United v. Federal Election Commission , which allowed corporations and unions to spend unlimited amounts on elections and made it easier for wealthy individuals to bankroll such efforts. Wisconsin is among a number of states that previously banned direct election spending by corporations and labor groups.
Welcome to the new world of Citizens United elections.  Big corporate money and billionaire donors have the ability to give massive amounts of money to pretty much purchase their own candidates.  This is a reflection of what will happen in the presidential elections in November.  You can bet the corporate and billionaire donors will be flooding the Romney campaign coffers with dollars to purchase their new, empty suit.  And that money will pay for a flood of negative advertising against President Barack Obama.  Will it be enough to purchase the votes?  I can't say.