Wednesday, September 17, 2008

Political Fundraising and The Economy

Be careful when you point fingers,
because three are pointing back at you.

It takes money to do or get just about anything these days. And depending on what you want to do, or what you want to get, makes a difference on how much money you will need. Running for the office of President of The United States is one of those things that require a massive amount of money. With so many people to see, and so many advertising methods to use (print, television, internet), candidates need more money than ever. BOTH candidates.

Last night, Barbra Streisand held a benefit concert for Barack Obama which reportedly raised $9 million. But the McCain campaign, who hasn’t performed nearly as well overall in the fundraising category, took the opportunity to mock the Streisand fundraiser , saying about Obama: “Talk about siding with the people, siding with the people just before he flew off to Hollywood for a fundraiser with Barbra Streisand and his celebrity friends.”

How short is McCain’s memory? Very. It seems he forgot his own posh fundraiser just this past Monday in a swank Miami hotel, where he raised $5.1 millions dollars. McCain should be careful at whom he points a finger – because three more will be pointing back at him.

Coming on the heels of the bankruptcy of Lehman Brothers , and now the bailout by the Fed of AIG, the politicians are turning their sights on the economy. The McCain campaign accuses Obama of capitalizing on a crisis. But, earlier in the day, when McCain called for a crisis commission, Obama called it "the oldest Washington stunt in the book."

McCain’s prior statements that he doesn’t know much about the economy (see short video ad below) are coming back to haunt him. While McCain may be trying to use the Streisand fundraiser to portray Obama as being elite and out of touch, it may backfire on him as more are reminded of his own fundraising from the wealthy, not to mention his lack of understanding of the economy. My opinion is that his running mate, Sarah Palin, won’t bring much to his economic knowledge base. Since Barack Obama is a Columbia University and Harvard Law graduate, I would think that his education, not to mention his senate seat covering populous Chicago, would give him a much better grasp of the US and world economy. And Joe Biden's background and experience is also a plus.

John McCain’s vocal disdain for the Obama fundraising steamroller is only a diversion. If McCain doesn’t know that a political campaign needs lots of money (he would take more of it if he could get it, don’t let him fool you) and if he doesn’t understand the economy, I don’t want him or his VP candidate sitting in the big chair, making big people decisions.

So John McCain, that’s my two cents, because that will be the only "money" your campaign would ever get from me .

Don’t know much about the economy:

This is a 30+ minute video of a Barack Obama speech on September 16 in Golden, Colorado.

Check out my blog home page for the latest information,

No comments: