Staff Reports
The price tag for the 2024 presidential election and congressional races is shaping up to be a jaw-dropping $15.9 billion, according to the latest analysis from OpenSecrets, the self-proclaimed watchdog that pretends to be nonpartisan. This staggering figure would outstrip the $15.1 billion that was spent in the 2020 elections, proving once again that if you want to play in politics, you’d better be ready to empty your pockets—or at least get the super PACs to do it for you.
OpenSecrets noted that while the spending kicked off in a somewhat lackluster fashion, it accelerated significantly after Vice President Kamala Harris took the reins of the Democratic nomination. Apparently, cashing in on the candidate’s name recognition to fuel campaign spending is business as usual. The analysis indicated that outside funds from super PACs are projected to soar past the $5 billion mark, which raises questions about whether ideas or money are truly driving these campaigns.
OpenSecrets is predicting that the 2024 federal election will be the costliest ever, coming in at least $15.9 billion.
As of October 7, outside spending (largely by super PACs) reached $2.6 billion, nearly a billion dollars more than in 2020. https://t.co/ETz82npIyF
— Citizens for Ethics (@CREWcrew) October 9, 2024
The timing of this report is particularly explosive, with a neck-and-neck battle looming between Harris and Donald Trump. Early polling in crucial swing states reveals Trump up by a razor-thin margin, while Harris holds a slight edge nationally. The high-stakes landscape suggests that a few dollars in the right places could mean the difference between victory and defeat in states where every vote literally counts.
Interestingly, Harris’s campaign is anticipated to pull in about $1 billion from July to September, and cash on hand for her campaign is significantly higher than Trump’s. With covers like these, Democrats seem to be betting big on the illusion of a fresh perspective—strikingly ironic given their track record of spending. Trump, while trailing in immediate cash reserves, remains a formidable figure with his own considerable financial backing.
The best news for conservatives is that outside spending appears to be favoring Republicans this time around, a notable shift from the 2020 election when leftist groups were determined to push Trump out of power. The super PACs are again flexing their financial biceps, with the GOP-aligned Make America Great Again Inc. leading the charge in financial contributions. Meanwhile, another super PAC, Fairshake, has also thrown its weight behind Republican candidates, further skewing the financial landscape.
Ultimately, the optics of financial transparency raise a few eyebrows. The report indicates that some major super PACs are barely scratching the surface concerning revealing their funding sources, with the phenomenon of “dark money” being a favorite ploy among political groups to dodge the sunlight of scrutiny. The ongoing circus of money in politics makes one thing clear: In the 2024 election, it may not be about the best ideas but rather the biggest checkbooks that decide who gets to occupy the Oval Office.
