Opportunities to discuss course content No office hours today or Wednesday Thursday 10-2
Learning Objectives Analyze the theories of why people vote and apply them to the 2012 Election. Evaluate the strengths and weaknesses of how presidential and congressional elections are financed. There is an L in Public, but no L in FECA
Campaign Finance in 2008 The First Billion Dollar Presidential Election – The Demise of Public Funding in the General Election – The Rise of the Internet as a fundraising tool These produced a president who would spend ¾ of a billion for a job that pays 400,000.
Overall Spending in 2008 Estimates are at $2.4 billion for the presidency $5.3 billion overall on 2008 Elections
Mc Cain and Public Financing Runs as a reformer, with BCRA as his primary reform achievement McCain’s Decision to accept $84 million hindered his campaign He has 60% less money
We Used to have public financing of Presidential Elections This gave each candidate an equal amount to spend President Obama breaks the trend Obama raised more money than all other candidates combined Obama raised more than the RNC and DNC combined.
Obama has a huge Financial Advantage McCainObama Individuals$195,927,301$656,610,810 PACS$1,412,559$1,280 Federal Funds$84,103,800$0 Other$78,724,163$83,450,000 Total$360,167,823$764,843,332
The History of Taking the Money John Connolly and Steve Forbes Bush in 2000 Bush and Kerry in 2004 John Edwards in 2008
Government Money in the Primary Federal Money is available in primary and general election There are Eligibility Requirements, caps on spending, and caps on raising. 22 million from the G, and 55 million cap on spending
Federal Money in the 2012 Primaries In 2012, no one accepts it Candidate strategy helped end this
Public Funding for General Election Each candidate could receive 91 million in public money It doesn’t kick in until you are officially nominated This money served to reduce campaign costs and remove any potential for corruption