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It sounded like a typical Bloomberg story: Lots of numbers, jargon like "in line with previous estimates", and descriptions about raising cash and filings with government oversight committees. But it wasn't. What looks like your average business story about an IPO or the issuing of new shares was a story about the latest figures from the presidential campaigns.
According to Bloomberg, Democratic frontrunner Barack Obama raised $41 million in March, while Hillary Clinton raised about $20 million and John McCain came in last with $15 milllion.
That means that Barack Obama raked in about the same amount of money in March that Chancellor Gerhard Schröder's Social Democrats spent during the entire federal election campaign in 2002, the last regularly scheduled election. According to a summary (in German) of election spending in 2002, the SPD invested approximately €26 million or $41.5 million, while the Christian Democrats spent €24.5 million or $39 million. The smaller parties were clearly outspent by SPD and CDU and came in between €3.5 and €5.8 million.
No doubt, the U.S. election campaigns are far more professionally orchestrated than German ones. But when you look at the outcome, do voters really get more bang for the buck? |
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