The June 21 article “Obama faces growing GOP super PAC financial power” revealed the shocking statistic: super PACs will put in a combined total of more than $1 billion into the Obama vs. Romney race. GOP super PAC dollars are expected to greatly exceed Democrats’ expenditures.
The 2010 U.S. Supreme Court decision in Citizens United vs. the Federal Elections Commission is largely to blame for this situation. The arch-conservative members ruled that money spent on PACs should not be restricted and that corporations should be treated as individuals and granted the same rights. So, what should we Iowans do in this election year?
I suggest that you vote for Obama. According to Forbes Magazine, the Romneys have a net worth of $230 million, not including $100 million set aside for their kids. The Obamas have a net worth of only $2.6 million, mainly earned from his two books. How much of Romney’s vast fortune will he spend in the 2012 race? I don’t think he will have to worry much about this in light of the super PAC money already raised for his election.