Remember the good ole’ days of campaign finance reform that was supposed to end the ballooning cost of winning the White House? I remember a hiccup here and there and something about US Senators John McCain and Russell Feingold championing the end of excessive, costly campaigns in the McCain-Feingold Act in 2002. Since then politics has changed drastically with the incorporation of the internet, Facebook, and Twitter, but campaign finance laws have remained steady.
President Obama managed to capitalize on these changes and not only completely abided by the 2002 law and get elected to the White House in 2008, but he did it in a landslide victory with fundraising totals in excess of $650 million. What’s an even greater irony is that he used John McCain’s own law against him by rejected what was probably the most crucial section of the law, setting spending caps for the general election in presidential campaigns. He did this by being the first presidential candidate to ever decline public campaign financing assistance so that he could access his massive war chest without limitation.
Now lets look to the future, a future that looks costlier than ever. In case you missed Obama’s announcement among all the news on Japan and Libya, Obama officially announced Monday that he was running for reelection. You are probably sitting there going, “Wait?! I thought the election was in November 2012? We are barely 1/3 of the way into 2011.” You are exactly right! It is in November 2012.
Obama has decided to announce now so that he can get a jump on fundraising over all the squabbling Republican candidates on his goal to a $1,000,000,000 reelection campaign (in case you can’t count all the zeros that means $1 BILLION). It has nothing to do with policy, getting a better grip on what is affecting the average American, or even making sure he has more time to organize his campaign personnel. It is all about money.
In case any of you readers out there are looking at running for President of the United States someday, don’t bother breaking your piggy bank because it won’t get much more than a poster on a college campus in the way of financing a presidential campaign. The price tag is even so high now that the super rich really have to think long and hard about the monetary cost of a campaign. It also makes me think that if a $1 Billion is what it costs in 2011 to win the White House, what will it be in 30 or 40 years?