Why Politicians Love California

The Skinny: Golden State Leads U.S. In Donations to Candidates Seeking National Office

(CBS)  The Skinny is Hillary Profita's take on the top news of the day and the best of the Internet.

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In the last four years, Californians have spent at least $502 million on federal campaigns – that's 24 percent more than New York and 13 percent more than national campaign funds.

And that's why all the 2008 candidates are making the trek to the land of the Governator – because it pays off.

The Los Angeles Times had the nonpartisan Center for Responsive Politics compile a list of California's top 100 donors to federal campaigns, interviewed some contributors and reviewed FEC documents to find that outside of their home states, candidates like Hillary Clinton and Barack Obama get the most campaign cash from California.

For example, Hollywood producer Stephen Bing is pulling for Clinton in 2008. He was the state's largest single donor in the past four years coughing up $14.2 million, most of it to Democrats.

The California equation is pretty simple, said the CRP director: "It is the place you go to get political money."

More Fun With Financial Disclosure

Elsewhere in 2008 related news, the Washington Post isn't finished with it's analysis of Hillary Clinton's financial disclosure statements filed in Congress recently. The paper's front page reports that the senator failed to include her family's charity on her disclosure statements on five occasions since 2001 when the Clintons began it.

Members of Congress are required to disclose any positions they hold, including nonprofits. Since 2001, the Clintons have written off more than $5 million from their taxable income "while dispensing $1.25 million in charitable contributions over that period," writes the Post.

Clinton's spokesman responded much the same way as other high-profile politicians who have been scrutinized for the same thing did – that it was an oversight. "Her office immediately amended her Senate ethics reports to add that information late yesterday after receiving inquiries from The Washington Post."

"More People With Deep Pockets"

While we're on the subject of philanthropy, USA Today reports that the number of individual donations of $100 million or more to universities, hospitals and charities hit a record last year, according to the Chronicle of Philanthropy.

The biggest came from Warren Buffet – who donated stock in Berkshire Hathaway ($43.5 billion worth) to the Bill and Melinda Gates Foundation and other groups. Among the country's 60 most generous philanthropists, their donations increased by $4.3 billion from 2005.

"The reason for the increase in mega-gifts is simple," writes USA Today. "There are more people with deep pockets."

Sunny Iraq

Meanwhile, in Iraq, the cabinet has approved a draft law that "would set guidelines for nationwide distribution of oil revenues and foreign investment in the immense oil industry," writes the New York Times.

Based on the law, oil revenues would be distributed to provinces or regions based on populations, a move that may reduce concerns among Sunni Arabs, "who fear being cut out of Iraq’s vast potential oil wealth by the dominant Shiites and Kurds."

The law would also allow Iraqi oil companies to conduct business with foreign companies to develop or explore oil fields.

While Iraqi officials say those arrangements would be conducted with a fair bidding process, "American inspectors have reported that the upper echelons of the government, including the senior ranks of the Oil Ministry, are rife with corruption." There are also concerns that American companies could be favored.

Poll: Most Americans Want A Timetable

Back at home, The Washington Post and ABC News have released a poll revealing that a majority of Americans (53 percent) favor a deadline for troop withdrawal from Iraq.

Fifty-six percent of those polled said that they "strongly object" to Bush's troop increase to the country. "This is the first time a Post-ABC News poll has found that a majority of Americans supported establishing such a timetable for withdrawal," writes the Post.

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[j0hnwi11iams]

How about all the money Ken Lay gave to Bush/Cheney so Enron could raid the California energy market? What did Lay say to Schwarznegger?

[bildooreilly]

Arnolds looking rather thin and gaunt, does he have HIV or something? I guess he was all just a big fake mass of steroid injections huh... just another fraud living a lie like the rest of his satanic buddies.

[bildooreilly]

They love Kali Fornia because that's where the Bohemian Grove is, and the Church Of Satan that is in a building that used to be a Hotel on California Street, which is where the Eagles got the name for their song Hotel California, they're all living it up at the Hotel California.

[Syndicate]

Most americans want a timetable? In 2003 most Americans wanted to invade Iraq too.