The Influence of Money

July 17, 2012 § Leave a comment

Below is a video of Romney at a press conference during his 1994 senatorial campaign.

“I am personally of the belief that money plays a much more important role in what is done in Washington than we believe. I personally believe that when campaigns spend the kind of money they’re now spending — this race, I understand, Ted Kennedy will spend about ten million dollars to be reelected. He’s been in 32 years. 10 million dollars — I think that’s wrong. And that’s not his own money, that’s all from other people, and to get that kind of money, as an incumbent you’ve got to cozy up to other people — all of the special interest groups that can go out there and raise money for you from their members — and that kind of relationship has an influence on the way that you’re going to vote. […]

These kinds of associations between money and politics, in my view, are wrong. And, for that reason, I would like to have campaign spending limits. […] I also would abolish PACs […] I don’t like the influence of money, whether its business, labor, or any other group. […] Lobbyists I want to register, know who they are. I want to make sure gifts are limited.

Context: This was Romney’s response after he was asked by a journalist what he thinks about lobbying in Washington.

Since he began his 2012 presidential campaign, however, Romney has embraced PACS as well as Super PACS for his 2012 presidential campaign and has received tens of millions of dollars. In June alone the pro-Romney Super PAC “Restore Our Future” raised $20 million dollars for his campaign. Billionaire Sheldon Adelson donated $10 million dollars to “Restore Our Future” (he also donated $21 million to a pro-Gingrich Super PAC before Gingrich dropped out of the race). The Koch brothers have also raised tens of millions of dollars for Romney. Politico has reported that conservative groups plan to spend $1 billion during the 2012 presidential campaign to defeat Barack Obama. Romney’s campaign, with the help of unlimited anonymous donations, has out raised the Obama campaign as of June 2012.

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