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Politics & Current Affairs

Most Expensive Election Ever

"The U.S. midterm elections are on course to become the most expensive in history next month, estimated at well over $5bn—an indication of how much is riding on the outcome."

“With the Democrats facing electoral disaster and Barack Obama battling to save his presidency, the Republicans are resurgent, their campaign chests bursting with money from big corporations whose spending power has been unleashed by a supreme court ruling earlier this year providing anonymity for donors. The estimated $5bn dwarfs the $1bn spent on the White House race. Public Citizen, a non-profit organisation that tracks corporate spending on elections and lobbying, said today Republicans had received six times more cash than the Democrats last month, and this could rise to 10 to one this month. Much of the cash had come from Wall Street, banking and the health and pharmaceuticals industry, it said.”

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