Because of the Citizen’s United case in 2010, where the Supreme Court ruled that there is to be no limitation on independent corporate political spending, President Obama is looking at earning a record number of campaign dollars for the 2012 elections: very possibly $100 million. Unfortunately, there are claims that this year’s presidential race will provide big spending booms with little economic impact, and cannot be classified as an economic stimulus. “That’s money that’s going to be taken out of corporate treasuries that could have been reinvested for jobs or rebuilding the businesses,” declares Bill Holman, a government affairs lobbyist with Public Citizen.
Overall, the total cost of the 2008 presidential election was $5,285,680,883, with 57% to Democrats and 42% to Republicans. The majority of Obama’s campaign dollars went to broadcast media ($244 M), print and online media ($47.1 M), and consulting ($133.2 M).
What about the current race for the 2012 elections? The New York Times reports that the candidates have collectively raised over $186 million to date. Of the Republican candidates, Mitt Romney is in the lead with over $32 million (almost twice as much as Rick Perry, who places second). However, President Obama has already raised more than all of the Republicans contenders at almost $100 million.
But where is all this money going? The Los Angeles Times has reported that thus far, among the various candidates, money been allocated to computer equipment, telemarketing, direct mail, travel, campaign staff, additional fundraising efforts, consultants, and based on previous election years, it is expected that about half of this abundant amount will again be spent on advertising. As before, the large financial focus will be on broadcast media, granting companies such as CBS, Fox News, ABC, NBC, and CNN most of that revenue. The most important question is: How can your business benefit from this concentrated surge of commerce?
Contact Ren today to strategize your potential role in the 2012 Presidential Race! Don’t miss out on this opportunity!
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