WASHINGTON, July 20, 2008

The Priciest Real Estate There Is

Is A $2 Billion Campaign To Win 1600 Pennsylvania Avenue The Way Towards Better Government?

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     (CBS/AP)

  • Play CBS Video Video Too Much Campaign Spending?

    Bob Schieffer questions the $2 billion which will be spent on presidential campaigns this election year, as the "Face The Nation" host wonders if candidate spending has become too excessive.


(CBS)  Weekly commentary by CBS Evening News chief Washington correspondent and Face the Nation host Bob Schieffer.
We have become so used to the flood of money in modern politics that when Barack Obama's people announced they had raised $52 million last month, it drew little more than a yawn.

Oh, sure, it was twice the $22 million that John McCain raised in June. That's no small haul, but it wasn't even Obama's best month; he raised $55 million back in February.

Get this: Obama and McCain's people say they will both try to raise $400 million between now and Election Day.

Our presidential campaign has already topped a billion dollars. That is a first.

By Election Day it is expected to top $2 billion - our first-ever $2 billion presidential campaign.

Money has always been a big part of politics but it has become the overriding factor now. Raise the money, then you have a chance to get elected; without it, forget it.

The air has gone out of campaign finance reform. When voters are going through tough times like now, they don't have time to worry about who is giving what to politicians.

But here are a couple of questions:

Does the state of the nation now have anything to do with the way we've been electing our politicians?

Are campaigns that take longer and cost so much more that the main focus must always be on money producing a better class of candidates - and ultimately more effective government?

When it costs $2 billion to elect a president, is that something a democracy should be proud of?

Just a few questions ...

E-mail Face the Nation.


By Bob Schieffer
© MMVIII, CBS Interactive Inc. All Rights Reserved.

Video and Galleries from Face The Nation

Add a Comment See all 11 Comments
by pollroller1 July 20, 2008 3:40 PM PDT
When it costs $2 billion to elect a president, is that something a democracy should be proud of?
NO!!!
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by joyous88 July 20, 2008 4:13 PM PDT
After the last eight years of fascist republicon government there is absolutely nothing to be proud of.

And, it is worth any cost to be rid of the Nazi''s in washington DC , and that includes McCain aand Leiberman
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by caldwellptr July 20, 2008 7:16 PM PDT
To paraphrase Leona Helmsley, "Only the little people need $2 Billion to gain the presidency."
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by cyberus-2009 July 20, 2008 7:45 PM PDT
Its not just the $2 billion .. its that the money is usually used to spread half truths and propaganda to the masses who in many cases believe the nonsense the same way they believe the tabloids.
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by lordmi July 21, 2008 1:50 AM PDT
first election with money of real people.
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by lochlan-2009 July 21, 2008 2:30 PM PDT
With the previous president costing this countries citizens trillions of $$$$, $2Billion is a bargain.

Imagine if I told you, if you give me $2 right now, I''ll turn it into a couple grand in several years, would you do it? That''s our government.
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by elukacek July 21, 2008 4:36 PM PDT
BARACK AND ROLL BABY!
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by Syndicate July 21, 2008 9:00 PM PDT
$6 per head. Not bad. Cheaper than buying every American a beer from a base ball stadium.
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by yongamerica July 22, 2008 9:01 AM PDT
All this spent for the sake of political power. Not of one person, but a political party and the corporations that support it.
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by ov442 July 22, 2008 3:56 PM PDT
sure it is.
Its part of the way government runs today that Obama wants to change, but DUHHHH, since hes not president yet and cannot change it, he has to use the system in place to the best of his ability to get elected by it.
Even so, he still has a much larger percentage of his funds raised from small donors of less than $200.
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by GeneJanowski July 22, 2008 8:05 PM PDT
Two Billion dollars for this presidential campaign. It''s interesting that the Catholic Church spent the same amount due to their mishandling of their U.S. sexual child abuse operation.
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