More Than $1 Billion Donated So Far To Presidential Candidates

A milestone in the intersection of money and politics was reached last month: more than $1 billion has been donated to candidates running for the White House.

The total, first reported by the Center for Responsive Politics, includes money that some candidates (Hillary Clinton, Mitt Romney) gave to their own campaign. Nevertheless, added up, the $1,001,204,469 in cash offered to the presidential aspirants represents a historic amount of loot. In 2004, the total amount given topped out at $884 million. In 2000, it was $528 million.

But just how significant is the current haul? While the total represents more money than the GDP of at least 23 countries, it is a pittance compared to the amount spent by companies like, say, McDonald's on corporate advertising.

"It is the first time the candidates themselves have raised more than a billion and we are not into the general election," said CRP's Massie Ritsch. "On the one hand it is more money than anyone really imagined presidential candidates could raise or think they needed. On the other hand Americans will spend more money eating out in restaurants today than the candidates have raised so far."

Other watershed marks have been reached in the world of political financing. Sen. Barack Obama currently has raised more than $287 million for his campaign, besting the previous primary total of George W. Bush in 2004: $269.6 million. Meanwhile, John McCain passed the $100 million threshold, making this election the first time that four candidates (Obama, Clinton, Romney, McCain) have hit that mark.

And yet, the role of cash in this election seems likely only to grow greater, as Obama has announced that he will become the first candidate since Watergate to forgo public funding in the general election. How much money, exactly, did the Senator pass up? According to Ritsch, with public funds Obama would have only been able to spend $1.2 million dollars a day - a "restriction" he no longer will have to contend with. Seem unreasonable? "Here's how much a few major corporations spend per day on advertising alone, based on a recent article in the Washington Post," noted the Center.

* Procter and Gamble: $13.4 million
* AT&T: $9.15 million
* Ford: $7 million
* Johnson & Johnson: $6.27 million

Comments

[JMDavis]

Thats a lot of money just so you can live rent free in a so so neighborhood.

[Zhonni]

LOL!

[ProgressiveBum]

Yeah, but it's the finest public housing in the country...

[BabsfromKS]

yet we won't pass bond issues to support our schools

[faith]

We need political campaign reforms. What we are seeing is simply who has the most money to win the election. The "who" are the lobbyests.

[BLinCincinnati]

If that were true then Romney would be the Republican nominee, or anyone else besides McCain.

[darthdarcy]

$1 Billion ain't what it used to be...

[Razz]

If it's not let them give it to me.

[cruisepuppy7452a]

Let me get this straight, how much of that wasn't corporate funding that Obamma is taking? Barack needs to stop lying to the American people. He can't have it both ways. If he is really with us, behind us, he should return all of the money given to his campaign from large corporations and special intrest groups, ditto for Michelle. If she took it on behalf of his campaign, that is just as bad. Nobody will trust him if he continues to take money from both the public and special intrests. We got behind him as he came off as a regular JOe.
Given the new information on this Billion, be damn sure it didn't just come from the little guys. We don't have that kind of money, but large corporations do. Folks, start asking his people where his money is coming from, and don't take I can't say for an answer. They know, and its our right to know.

[patmancando]

There is no doubt that Obama has many small donors, who have bought into the dream of getting big money out of elections, but is that realistic? $1 billion is obscene anyway you look at it. My heart goes out to the small donor who has pledged on a monthly basis money they really couldn't afford. I think there are many out there in this category. Of course, the election is a boost to the economy, if you want to look at it in that way............but who is making all that profit from campaigns? Much of it is going to broadcasting, whether it be radio, local TV stations, Networks, cable and the written press. There was a time in this country when there was a fair and equal policy in broadcasting. If you gave free air time to one candidate you had to give to his opponent. It is greed which has broken our election system, and it in beneficial to media to keep the system as it is presently.

but is is obscene to vie for all that money.

[AdamND]

The billion isnt just for obama.

[KQuarksSuperKollider]

The key is that 0bama is not owned by any corporation or special interest group. Yes 0bama got money from different corporate or special interest segments, but as a percentage of his total receipts those donations were relatively small. While McBush and more specifically the RNC is wholly owned AND operated by big business and lobbyists. That's the big difference. If you cannot see that it is your own ignorance.

[Wiredwilly]

" Fools and their money are soon parted.... "

[WFV]

So the recession is hitting everywhere but the airwaves. Glad to see someone is still flush.

[joekerr]

And nobody is even flinching...wow! That's an obscene amount of money to spend on advertising. I guess it just goes to show that it is really about the message, not the substance. And the way everyone just shrugs it off is even more incredible. So today alone, if I get this right, those 4 corporations have spent more than 35 million dollars on adverts? And I can't get a job to provide healthcare or fund a pension plan? This world has gone completely screwy! And while I have the fondest admiration for the candidates, they should be as appalled as I am, about how our priorities are completely in the wrong order. Not only could a billion dollars be much more helpful in other areas, besides shiny flyers and misleading ads, it also goes to show just how disconnected Americans are from their own country. Why oh why should it take a billion dollars to get people to pay attention? Jebus help me!

[08politicaljunkie]

Jesus help us all.

Although I agree with you, I'm trying to keep an open mind on all of this.

For people like the posters on HuffPost, advertising is not necessary because we will seek out the candidates' stance on the issues and we will read here, as well as in the news, about their activities and associations, both good and bad. However, there are those who work strenuous, abysmally dismal jobs for eight to 12 hours each day then go home and go to sleep. All they know is what they hear in those ads and maybe someone else's opinion: A relative, co-worker, friend, grocery store clerk, or bartender. With that in mind, I guess candidates feel compelled to keep their own message out there to counter negative ads, headlines, and misshapen opinions of others.

But there has to be ways other than television advertising to keep their names and messages in the public. Ways that can benefit other people, common people, people who are not employed by MSM.

[Razz]

All I can ask is why?
They want to run for office, they should pay for all of it. We are paying for them to get into office so they will shaft us later?
I am not going to pay cent at least not directly. Indirectly they are stealing from our taxes anyways.

[bryansmith]

just think what we could do if we were willing to donate this kind of money to charity. I bet $1 billion would be enough to subsidize all student loans for several years, or to advance cancer and aids research.

Or better yet, we could give Don Imus sensitivity training and buy Dick Cheney some sort of device that prevents him from shooting people.

Perhaps we could make over Dennis Kucinich to be as hot as his wife, then buy fox news from Rupert and replace his glorified shock jocks with topless, drunk/stoned college-aged Che Guevera worshipers with solid PETA credentials. Then they could bitch about the liberal media.

Man the possibilities are endless!

[glitzqueen]

And most of this haul has gone to the propaganda conglomerates -- who'll turn around and give a huge chunk of it to Republicans. ARGH! Our guys should've spent their loot to buy or build some honest media.

I can't bear to donate to any candidate, knowing the money will just go to the likes of GE, Disney and Murdoch.

[nirek]

It seems to me that too much money and not enough discussion is a problem. I will not give any $ as it costs too much for food, gas, heating oil, and other necessary items to live . No extra money available.

[mc2714]

Oh, and this is the first primary in a LONG time that was competetive for both parties, so, of course, the bill is higher

[mc2714]

$3 per American. In 2000, it was about $1.90 a head. Mederately ahead of inflation growth, but not a story.

[Razz]

Let them pay me, I need half a gallon of gas money.

[kellygrrrl]

I'm sure my children and grandchildren will not mind my dipping into their inheritance

they already have enough Boo$h debt to pay over the next 50 years