Campaign Spending Doomsday

Floor Speech

CAMPAIGN SPENDING DOOMSDAY -- (House of Representatives - October 31, 2007)

The SPEAKER pro tempore. Under a previous order of the House, the gentlewoman from Ohio (Ms. Kaptur) is recognized for 5 minutes.

Ms. KAPTUR. Mr. Speaker, for 60 years, the Bulletin of Atomic Scientists has operated the doomsday clock which measures the threat to civilization and counts the minutes under midnight. When it was first introduced in 1947, the doomsday clock measured only the nuclear threat. But now it takes climate change into account as well.

But perhaps we need a different doomsday clock, a clock that will warn us about a different type of arms race that also threatens the future of our Republic. This arms race is not nuclear weaponry but instead uncontrolled escalation in campaign spending. Unbridled campaign spending represents the clearest, most present danger to our democratic ideals as a Republic.

Here is the latest evidence. Just this week, the Center For Responsive Politics released the latest information about campaign spending in the 2008 presidential race.

After 9 months of fundraising, says the Center, ``This Presidential money chase seems to be on track to collect an unprecedented $1 billion total. By some predictions, the eventual nominees will need to raise $500 million apiece to compete.'' $500 million apiece to compete. This is a tremendous amount of throw-weight, to borrow a Cold War term.

``After nine months of fundraising, the candidates for President in 2008 have already raised about $420 million. This Presidential money chase seems to be on track to collect an unprecedented,'' and I repeat, ``$1 billion total''. That is probably four to five times as much as was collected just 4 years ago. On the Democratic side, HILLARY CLINTON has raised nearly $100 million. On the Republican side, Mitt Romney is about half that amount, but Rudy Giuliani is just on his tracks. BARACK OBAMA has raised about an equal amount to Senator Clinton.

The projected Presidential spending will exceed the annual gross domestic product of 25 nations on this planet. Where is all this money coming from? If the Presidential campaign surpasses the $1 billion mark for the first time in our history, who will own the next President? Isn't that what the American people are asking? Will it be middle-class voters, who are holding on for dear life, ordinary working folks trying to pay for gasoline, put food on the table, pay insurance bills, pay utility bills, pay tuition costs, pay taxes? Will they have more influence over the next President of the United States? Or will the big-money special interests have more influence? We all know the answer to that question.

The people are telling us they are deeply troubled. All the polls show the American people feel that Washington is totally out of step with them. It's hard to imagine a Presidential candidate who is not beholden to special interests. It's hard to imagine that a candidate who relies on hedge funds, multinationals and special interests will be able to stand up for the middle class in America. The middle class is asking where is the President, where is the Congress.

What type of legacy is this leaving for our children? Will they not conclude our Republic is owned lock, stock and barrel by the rich and powerful? It sure looks that way. What will they think our Nation, once founded with the high ideals of patriotism, sacrifice and rebellion against entrenched interests? What has happened to that Republic?

The dollar amounts being tossed around in the 2000 Presidential race make it only a matter time before another giant scandal rocks our government and further undermines the confidence in our body politic and our very system of government. We must curb this arms race now before it's too late.

H. Con. Res. 6, which I have introduced, reaffirms that presence of unlimited amounts of money is corrupting our political process in a fundamental manner. I encourage my colleagues to join me in cosponsoring this legislation and for Americans to pay attention and call this important issue to the attention of their representatives and of those Presidential candidates when they whiz through town.

America needs a new declaration of independence to take our politics back from the money handlers, the bundlers, the lobbyists, the spin doctors and the telemarketers, which is what Presidential campaigns have become, telemarketing, with $1 billion being put on television.

Let's return our Republic, if we can, to the American people and, more importantly, a free Republic to our children.

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