Federal Campaigns Spend $1.8 Billion in 2008

Chris Good has the numbers:

Thanks in part to Barack Obama's record-setting fundraising total of $745.7 million, financial activity in the 2008 election increased 80 percent from 2004 for a total of over $1.8 billion, according to the Federal Election Commission.

There's a sense in me that the epic growth in campaign expenditures -- up 80 percent over just the last four years, as the FEC release indicates -- is going to slow down between now and 2012. Of course the economy, which may be picking up by the time the next cycle begins in earnest but certainly is not there yet, would play a role in this slowing of campaign cash. Indeed, the pace of contributions seemed to slow down during the last month of the 2008 campaign as a result of the then-teetering economy. But even beyond that, it's not clear to me that the excitement of 2008, which centered (at least on the Democratic side) on replacing George W. Bush, will be as present in three years as it was last year. Then again, the trajectory of spending has been inexorably upward over the past several decades, so perhaps a slowing is not in fact in the works.

Tags: 2008 (all tags)

Comments

3 Comments

Re: Federal Campaigns Spend $1.8 Billion in 2008

Looks like Barack Obama started the Stimulus before he was even elected!

by Endymion 2009-06-09 05:24AM | 0 recs
Re: Federal Campaigns Spend $1.8 Billion in 2008

That is amazing Obama raised over $700 million.  Wow!  I wonder if he can do it again.  Pink Laptops

by sreid01 2009-06-09 06:24AM | 0 recs
Re: Federal Campaigns Spend $1.8 Billion in 2008

The numbers really are impressive and I'm glad our guy won, but this is not good news.  I still feel we badly need to get to publicly financed elections.  Look at how powerful the banking lobby is.  Even the best intentioned Senators and Congressman fall under the influence of their campaign contributors.  And we can forget Single Payer universal healthcare, the insurance companies and for-profit healthcare industry won't even allow the issue to be debated in the Senate.  And then there's the coal industry, and the oil industry and on and on....

by Dirk Diggler 2009-06-09 07:53AM | 0 recs

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