Heavy Lifting - thoughts and web finds by an economist
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Tuesday, February 20, 2007
Just last night my brother and I were incredulous at the claim that spending during the next presidential campaign might top $1 billion. How exactly does that much money get spent? When it comes to trying to control a ~$3 trillion budget, spending upwards to a billion dollars is probably not too far-fetched.
Nevertheless, this morning, I fire up Drudge and find a link to a story that Hillary Clinton proposes that the Confederate flag on the South Carolina statehouse grounds come down because we need one banner under which we fight during war (this seems a little self-serving, but okay - it's politics).
Notwithstanding, the story provides a possible clue about where much of the money goes:
The senator picked up key endorsements last week from two black state senators who helped deliver black voters to former North Carolina Sen. John Edwards in 2004. One of those politicians, state Sen. Darrell Jackson, whose media company also picked up a $10,000 consulting contract from Clinton's campaign, introduced her to the Allen University crowd.If every campaign stop led to a $10,000 (or more) "consulting contract" to one or more local politicians, then it is entirely plausible that the next presidency will "cost" $1 billion.
Assume 150 such contracts in all fifty states = $10,000x150x50 = $75m, and that's just for one campaign. If two campaigns seek "consultants" at the same rate, this spending would represent 15% of $1 billion and the first poster or button has yet to be printed.
The Clinton campaign denies any impropriety stating that the recipient of her largesse has been receiving such largess since the first national campaign in 1992.
Oh, well in that case I suppose it is okay.
$1 billion here we come.
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