The amount of money spent on federal elections in the 2008 cycle is breaking records, say some new tabulations by the non-partisan Center for Responsive Politics.
Counting contributions to federal candidates, political party committees, and federally focused 527 committees, spending on federal contests is likely to top $5.3 billion -- up 27 per cent from the 2004 election cycle, the Center says. White House aspirants broke the $1 billion mark -- almost double what they raised and spent in 2004, and triple the comparable sum for 2000. Leading the pack in PAC and employee contributions is the same industry sector that brought you the real-estate bubble and the credit crunch: finance, insurance and real estate. More on the Center's estimates here. To listen to a press conference call presentation by the Center's Executive Director Sheila Krumholz click here.
Comments
To post a comment, you must provide a name and a valid e-mail address. Messages must be limited to 400 words. By using this service you agree not to post material that is obscene, harassing, defamatory, or otherwise objectionable. Although Under the Influence does not monitor comments posted to this site (and has no obligation to), it reserves the right to delete, edit, or move any material that it deems to be in violation of this rule.