There are purists on the Left who believe President Obama should unilaterally disarm and renounce big campaign finance, however when faced with $100 million from Sheldon Adelson and $400 million from the Koch Brothers, I’m glad he is not following their advice.
Newt Gingrich benefactor billionaire Sheldon Adelson and his wife Miriam have contributed $10 million to Mitt Romney’s super PAC Restore Our Future and now Forbes reports that the couple is willing to spend a “limitless” amount or more than $100 million to help defeat President Obama in November. And while $100 million sounds like a lot, the donation is just a drop in the bucket for the casino mogul. Adelson’s $10 million donation to Romney is “equivalent to $40 for an American family with a net worth of $100,000,” while his $100 million goal “constitutes the same percentage of Adelson’s wealth that $300 to $400 does for normal Americans.” Forbes estimates Adelson’s worth at $24.9 billion.
I firmly believe President Obama will win a second term in office, however even if that’s the case this is a serious perversion of Democracy that needs to be reversed
Supreme Court nominations made by President Obama during a second term may be the only way to do so. I wouldn’t count on congress going out of their way to renounce unlimited cash.