Will the Money Keep Pouring in for the Presidential Candidates?

Is it just me or does the road to the Oval Office keep getting longer? It seems like the presidential candidates have been battling it out for an immense amount of time and slowly but surely the field has been narrowed down to a few frontrunners. Will the fundraising dollars to support these monumental campaigns still pour in?

There are several reasons why this election is a landmark in our country’s recent history: first of all, this is the first time in the post Watergate era that neither candidate is choosing to accept public funds. Secondly, a large portion of the monies collected has come from Super PAC’s which were deemed acceptable by the Supreme Court in 2010. Finally, the use of social media to gain supporters and donor dollars has never been used to this extent in any previous election. These factors alone will cause a huge impact pertaining to the results in this November’s election.

Paul Blumenthal of The Huffington Post explains that, “The public matching-funds system began in 1976 in response to the campaign finance abuses of the Nixon administration, uncovered during Congress’ investigation of the Watergate scandal. Presidential candidates who can show broad support through fundraising across the various states become eligible to receive matching funds from the government so long as they abide by strict spending limits. These funds are available for both primary and general election campaigns.” In this election both candidates have declined this option in favor of garnering unlimited funds from individuals and are able to avoid spending limits.

Super PAC’s have been rather controversial but influential, nonetheless. “Super PACs and political nonprofits have already poured more than $100 million into the 2012 elections, much of that on negative ads. Independent group spending this time is expected to easily eclipse the record $304 million spent in the 2010 cycle,” comments Blumenthal.

Social media has been the third major influence on this year’s presidential election. Online ads with Yahoo, thousands of Tweets, the implementation of Facebook pages and countless text messages have become the norm concerning modern campaigning. Not only is this appealing to a newer generation of voters, but it is making politicians more accessible to the public. Online fundraising has also increased creating a whirlwind of support like never before.

The times are changing and so are the ways that the politicians are attempting to climb up Capitol Hill. The winner will be the one who incorporates all three avenues brilliantly.