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5.3 Billion Spend on Federal Political Candidiates

4 November 2008 No Comment
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Today was election day! Hope everyone has gone out to vote! Not just for the presidential candidates but for all the propositions and local positions.

To be honest I don’t like writing about politics, but in the spirit of voting day here is another!

Media Spend by Candidates Breaks Reocrds
So as everyone knows a candidate’s spend on media will have a direct influence on how we view the candidates and ultimately who we vote for. So how much has been spent on this election?

The country will have spent $5.3 billion on federal political candidates. 27% higher than 2004. The presidential race? $1.5 billion by mid-October, on track to be closer to $2.4 billion by the end according to Center for Responsive Politics.

The candidates raised $1 billion dollars shattering all kinds of records. That is nearly $8 for every vote cast. From that purse, Obama has spent about double of McCain. They have traveled more miles, had larger staff and of course spend millions on political advertising. Obama, who abandoned the public financing system, the first major party candidate to do so since the money reforms of watergate has found success utilizing the media which will only encourage future candidates to do so as well.

Democratic presidential candidate Barack Obama has spent three times more than McCain on television advertising in these final couple days before election. He has spend nearly 21.5 million dollars in spend just between October 21 to October 28th. McCain’s camp has spend about 7.5 Million dollars. Obama’s campaign is on track to spend more on TV advertising than any campaign in history with over 100 million dollars. The half hour infomercial alone costs more than three million dollars.

Market’s Failing, Job Losses, Spend 5.3 Billion on Elections!
With all the talk about markets failing, people worrying about sending their kids to college or worried about paying off their mortgages as aptly described by both candidates, literally over a billion dollars are being spent for this election. Does that bug anyone? Do you think it’s justified and “hey it’s just politics”? What if a candidate pledged half it’s funds to help the economy in some way? Unrealistic? Probably, but hey it’s interesting to think about. Comment below with your thoughts!

Another Note: Wonderful Promises! Now how much is it going to cost?
I always didn’t like it when politicians promise the world without explaining how in the world we are going to fund it. There is only so much money to go around, if you want 500 million here, you need to take it away from someone else! You can’t promise everything just to be on my good side. I found this link on the GOP site which adds up all of Obama’s promises. How accurate is it? I don’t know but it’s a perfect example of what I mean by… where is the money going to come from? This isn’t just Obama but for all past and present candidates.

Obama’s Fiscal Agenda – $1.2 Trillion in New Spending?

Creativity in getting Obama Supporters out to Vote!
Now that I’ve posted something pro-McCain, I must post some stuff that is pro-Obama! This was a very creative video paid for by moveon.org where you can send a video to your friends customized with their name. Looks like it was my fault Obama has lost the election…

Obama’s 3 Million Dollar 30 minute Spot
And here is the 3 million dollar 30 minute spot.

Do you think its responsible for candidates to spend this much money? Do you think something is wrong with the picture or do you think it is all justified since it’s such a huge decision? By the way, if you didn’t vote you have no right to complain :).

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