Road to White House may cost $1 billion

[RamboLiberal]

http://www.washingtontimes.com/national/20061220-121843-2600r.htm

The chairman of the Federal Election Commission yesterday predicted that 2008 will produce the first $1 billion presidential race and that the $500 million that each party's candidate will need to compete will severely limit the field of contenders.

"The 2008 presidential election will be the longest and most expensive in United States history," FEC Chairman Michael E. Toner told The Washington Times.

"The nominee of each major party is likely to opt out of the public-financing system for the first time ever for the general election," Mr. Toner said.

Officials told The Times that in 2004, both Sen. John Kerry and President Bush considered not accepting public financing for the general election. But they decided to accept the $75 million and the consequent spending cap out of fear of an out-of-control, money-raising race with an uncertain outcome. Both men eschewed federal matching funds for their primary contests.

Mr. Toner said that nominees will seek to raise up to $500 million for their campaigns and that the "entry level" for getting into the presidential nomination campaign as a serious contender will be $100 million by the end of 2007. A candidate who hasn't raised that much by then will not be taken seriously by potential major donors or by the press, he said.

[WannaJumpMyScooter]

1. I have heard of construction cost overruns,

but it can't cost that much to pave Penn Ave, even in DC!