CNN news 2010-11-01
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4 days! That's all the time that midterm candidates have left to convince Americans to vote for them. Win or lose in next Tuesday's midterm elections running for office comes at a price, you gotta produce TV ads, you gotta make signs, pay a staff. All of that adds up. Dana Bash take us out on the campaign trail that look like a money trail, to see how much being spent, and where's all coming from.
Sure, there's a lot of money flowing in this year's election. But exactly how much being spent is mind blowing, $4 billion. To put for $4 billion in contexts that's enough to send about 80,000 students to Princeton for a year. It could buy everyperson in America 3 big-macs with fries at McDonnalds. $4 billion is far more than $2.5 billion spent in last midterm election in 2006,and dwarfs $1.6 billion spent a little more than a decade ago in 1998. Opensecrets.org compiled the figures in a new report. The stakes are so high this cycle that it's not supprising that there's intensity to the cycle that was, uh, perhaps, reduced the missing in last cycles. The amount of $4 billion that spent by candidators themselves, and eye-poping amount is coming from outside candidates campaigns, political parties and independent groups. $430 million in overall outside spending. Only 31 million was spent in 2002, less than a decade ago.
And despite the Democrates complaints being out-spent when they come to political parties. Democrates are winning. Although, the Democratic party has raised $782 million, a lot more than Republican party at $515 million. But GOP outside groups with ads like this, are making up for their gap in the sum. Although Democratics groups are catching up, they're being out-spent by GOP counterparts 2-1.
Another fascinating 2010 trend, key industries moving campaign cash from Democrates to Republicans. Take their healthcare sector, when the President took office,2/3 of its dollars for going to Democrates. Since Healthcare passed, the industry is giving 60% to Republicans. The same goal is for money from Wall Street, and in energy sector. Just last year, both gave mostly Demcorates. Now, 65% of Wall Street money goes to Republicans. The energy sector 74% Republicans.
I think they've got a finger there, I think they're looking out the changing poll numbers, seeing that the Republicans have a clear shot at taking the majority, particularly in the House.