Collect $100 Million, Pass Go
At the sound of the chime, the 2008 Presidential Wealth Primary will commence: all competitors must hand over the $100 million entry fee - remember this is a competition of money, not ideas. Or so this article by Dan Morain at the Los Angeles Times would suggest. For the first time since Watergate prompted the reform, candidates for the 2008 Presidential race are expected to forego public financing in the general election. Relying on extensive Rolodexes to raise the hundreds of millions they will need to be competitive in a climate of rapidly escalating campaign costs, major party nominees are expected to forego public financing - enacted in 1976 to reduce the influence of wealthy donors on the outcome of the race - and its attendant fundraising limits. Instead they'll need to reach out to even more groups and individuals capable of giving the maximum donations in both the primary and general elections. Make no mistake, when it comes to what will matter in determining a viable candidate for the White House, access to wealth will be at the top of the list. With the race for the nation's highest office inextricably tied to access to big money, isn't it time to consider a solution that cuts the ties between wealthy special interests and candidates for public office? If the current Presidential public financing system is no longer up to the task, it's time for full public financing in the model of Clean Elections. Otherwise, this situation will only get worse.