Scoping out the new election economy:
No matter what you think about the court decisions, including Citizens United, that have unraveled campaign-finance restrictions, it’s clear that the resulting gusher of contributions has created an industry of breathtaking scale.
Estimates now put overall federal campaign spending for 2012 at about $6 billion - more than half of Hollywood’s entire box-office gross last year. And that’s only for presidential and congressional campaigns.
So it’s time for a comprehensive report, perhaps from the Wall Street Journal or Reuters or BloombergBusinessweek, on Elections Inc.
Who are the biggest players among the consultants, ad agencies and ad buyers, mail-order houses, pollsters and media companies? (I noticed that Gannett attributed much of its improved earnings this quarter to political ads on its local television outlets.)
And can we see sidebar profiles of the three or four biggest Election Inc. moguls – the ones who are making a fortune taking salaries and fees to deploy all of this money?