PEPPERDINE UNIVERSITY
5/25/2012

White House for saleLANDON PHILLIPS/Assistant Art Editor

Money plays powerful role in upcoming election

ANDREA MCCARTHY
Staff Writer

The significance of the upcoming 2008 presidential race is unparalleled. It has procured an intensity that is sweeping the nation; an intensity I experienced firsthand as a war room intern for John McCain’s campaign.

The competitive atmosphere, already heightened by the fact that 2008 is the most wide-open election since 1928, according to The Washington Times, is spurred on by the extreme emphasis placed on money and fundraising this election.

In January, Federal Election Commission  (FEC) Chairman Michael Toner was quoted in The New York Times, predicting 2008 to be the “most expensive presidential election in American history.”

He was right. And I have witnessed firsthand how poor fundraising can make or break a campaign. John McCain was once considered the frontrunner for the GOP, but after reporting a disappointing $12.5 million in fundraising in the first quarter his support has wavered, according to The Washington Post. His second quarter numbers, released in July were even worse, at only $11 million, according to CNN.

In stark financial contrast, stands another republican contender, Mitt Romney. Romney’s poll numbers were in the single digits during the first quarter, and shocked the nation by reporting $21 million in fundraising that same period, according to The Washington Post. Romney’s second quarter fundraising waned, and he donated $6.5 million of his own money to his campaign coffers, but he still came in ahead of McCain with $14 million according to CNN.

McCain’s dismal fundraising has caused a serious deterioration of support. I saw the reluctant firings rendered to campaign staffers because the money wasn’t there to pay them. John McCain has gone from flying to events in private jets, to flying in coach. Unfortunately, his polling numbers have suffered a downgrade as well.

Mitt Romney on the other hand has a vast personal fortune from which he is willing to cipher any needed money, donating a total of $9 million out of pocket thus far to his campaign according to politico.com. His ability to spend money on purchased media (radio, television and Internet ads), has given him a national prominence he otherwise would not have.

He has placed more television ads than all other candidates combined, according to Neilson Media Research, and spent the hefty sum of $2 million in his first place finish in the Ames Iowa Straw Poll August 11th.

His expenditures on the traditional republican pseudo-vote with the reputation of making or breaking campaigns, totaled $1 million by the end of June, more than his half-dozen competitors combined, making his expenditures the largest of all presidential hopefuls participating, according to The Washington Post.

Since his win in Iowa and as more of the American public are becoming acquainted with his personage through the thousands of television ads he has run, according to Neilson, Romney is seeing the fruits of his expenditures.

Romney has seen a significant jump in recent polls according to Human Events, a conservative media outlet. As Romney’s popularity continues to rise, his political record is raising eyebrows in Washington.

Since his years as governor of the liberal state of Massachusetts, Romney’s positions on historically party contentious issues, particularly abortion, gun control, and gay marriage have shifted to the right, appealing to a more conservative GOP base, as detailed in Human Events. Romney has flip-flopped on some of the most party defining characteristics of the GOP, yet he is seeing increasing

popularity.

Is the money he is spending on purchased media clouding the reality of his pandering past? Can the candidate who spends the most money buy the White House?

Although a frightening thought, the American electorate must not be discredited, as it was one of the worst fundraisers who came in second in Ames.

Mike Huckabee, who is the former Baptist minister, wrangled his 2,587 votes through his guitar playing antics with band Capital Offense, according toThe New York Times. Huckabee, has brought in less than $2 million combined, yet has nevertheless come out of Ames the dark horse.

Perhaps Americans will not exchange their votes for money, and the other qualifications, such as musical ability, will count as America chooses its next president.