Everyone’s a Fat Cat in Politics Today

Jonathan Bernstein: “We’re living through an era of campaign finance abundance, even though most of the prevailing ideas about money in politics come from an era of scarcity. Loosened laws and regulations have brought big new sources of money — some disclosed, some not — into play. Technological change combined with partisan polarization has produced the phenomenon of big little money — millions of dollars raised in small increments, mostly apparently given by party-loyal voters responding to partisan cues.”

“Overall, there’s just a flood of money. Spending on federal elections alone in 2020 more than doubled the previous record; in fact, there was about as much spent on House and Senate campaigns in 2020 as there was spent on House, Senate and presidential elections combined in 2016.”

“What this means is that virtually every serious candidate in a competitive general election for the House of Representatives, Senate, or a governor’s office will be adequately funded.”