The Priciest Real Estate There Is

(CBS)  Weekly commentary by CBS Evening News chief Washington correspondent and Face the Nation host Bob Schieffer.

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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 ...

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E-mail Face the Nation.
By Bob Schieffer

[GeneJanowski]

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.

[ov442]

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.

[yongamerica]

All this spent for the sake of political power. Not of one person, but a political party and the corporations that support it.

[Syndicate]

$6 per head. Not bad. Cheaper than buying every American a beer from a base ball stadium.

[elukacek]

BARACK AND ROLL BABY!

[lochlan-2009]

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.

[lordmi]

first election with money of real people.

[cyberus-2009]

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.

[caldwellptr]

To paraphrase Leona Helmsley, "Only the little people need $2 Billion to gain the presidency."

[joyous88]

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