Corporate Cash Floods US Congressional Elections
Big business and the wealthy are pouring unprecedented sums of money into the US congressional elections, according to data reported in the media over the past several days. While the lion’s share of the money is going to candidates of the Republican Party, Democrats are also raking in millions, underscoring the status of both parties as political instruments of the financial aristocracy.
Much of the spending is fueled by the Supreme Court decision in the Citizens United case, handed down in January, which reversed 80 years of precedent and declared that corporations—as well as labor unions—had the right to spend unlimited amounts of money on behalf of their favored candidates.
While individuals and organizations are limited in what they can give directly to a candidate, there is no limit on what they can spend on their own, as long as the advertising is not directly coordinated with the candidate.
The result is the sudden emergence of numerous organizations with vague and misleading titles—American Future Fund, Americans for Job Security—disposing of vast resources from billionaires and corporate donors, and launching a barrage of attack ads against the opponents of their favored candidates.
An analysis published by the Washington Post Monday found that outside organizations are spending five times as much in the 2010 campaign as during the last midterm election in 2006. These groups spent $16 million at this point in the 2006 election, but have spent $80 million so far this year. Two Republican-linked groups, American Crossroads and Crossroads GPS, have spent $18 million each already on campaign advertising.
Link:
http://www.globalresearch.ca/index.php?context=va&aid=21346
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