Follow The Money
Money and its influence have become the common denominators of every story at this stage in the long presidential campaign. I know — you’re shocked, shocked.
Yesterday, it was the news that Bill and Hillary Clinton’s tax returns showed lucrative work by Bill for powerful companies that donate to Hillary’s campaign.
Before that, it was Hillary campaign manager Mark Penn’s paid work on behalf of the government of Columbia to promote a free trade pact that Hillary opposes.
And before that, it was the AP rundown of how the millions of John McCain’s wife helped bank roll his early Senate campaigns, lease jet planes and pay for real estate they both use for entertaining.
And this is just the last few spins of the news cycle.
It is hard to avoid being importuned for money by the candidates, their supporters, and their political parties, or reading about how they’re spending it. When you go to the candidates’ Web sites, the first page you see is an appeal to give them more money.
Don’t they know we’re in a recession?
If you win one of the on-going campaign lotteries — sorry, contests — in exchange for a donation you can win a trip on McCain’s bus (“The Straight Talk Express”), a ticket to Hillary’s Elton John concert, or a sit-down dinner with Barack Obama. Now, Clinton’s campaign offers you the opportunity to designate how you want your donation spent.
Think of it as a funded “earmark.”
The biggest news about Barack Obama in the last day or so is that he raised $40 million last month — twice as much as Hillary.
You can see why Hillary would be concerned. A billion dollars has been spent by all the campaigns already just for the primaries. That amounts to spending money faster than Bill can give speeches.
No one must love the political process more than TV and radio broadcasters in Pennsylvania, where the Democrats are spending millions on campaign ads in advance of the April 22 primary.
Oddly, none of this spending seems to have been adversely affected by that other money story — the recession. But the money never runs out for political campaigns because the need for the influence it provides never ends.
By the way, the Wall Street Journal’s “Political Market” (a “free fantasy political stock market” — not to be confused with the equity markets) puts Obama way out in front as the likely Democratic nominee, with 84% betting for him. Nearly 60% will “buy” a contract that the Democrats will win the White House this fall.
Or you can place your bets at any Las Vegas casino — that is, if one of the candidates is not holding a fund raiser there.