An interesting article in the New York Daily News discusses the tremendous amount of money expected to go into the 2008 presidential race.
The next White House race is certain to break every spending record. And despite various attempts to curb the cash orgy that presidential politics has become, it will likely also spell the end of publicly financed campaigns.
“The 2008 race will be the longest and most expensive election in American history,” warned Federal Election Commissioner Michael Toner. “We’re heading into the first $1 billion election.”
Every time around it’s always the “most negative” and “most expensive” race ever.
Democrats like Indiana Sen. Evan Bayh and Virginia Gov. Mark Warner have already dropped out, scared off by the financial chops of glitzier candidates.
Toner figures the Democratic and the Republican nominees will have to spend $500 million each by Election Day – double what they did in the record-smashing election of 2004.
Good call on the part of Warner and Bayh since they’ve not a chance. However, is it such a huge story that each side will spend $500 million? I mean really, I guess it’s just the milestone like watching the odometer on our car hit 100,000 miles or something.
I’m sure it was big when the presidential campaign cost $1 million! Times change, it’s just a number.