Does money even matter? And other questions you may have about Bloomberg’s half-billion-dollar failed candidacy
. As one of the most influential political donors of the past decade, the former New York mayor plans to spend heavily to defeat President Trump in November.Here are answers to some questions to help us understand the half-billion dollars that fueled his short-lived candidacy.It does! But money can get you only so far, even when you have seemingly unlimited amounts of it. And you can still go far when you don’t have a lot of money .
Bloomberg’s massive spending gave experts a rare opportunity to test the effects of what basically became uncontested presidential advertising. And Super Tuesday results confirmed: Campaign advertising matters at the margins.“It is a very nice illustration for the public and other people who thought that he might be able to buy his way through the election,” said Erika Franklin Fowler, director of the Wesleyan Media Project, which tracks and analyzes political advertising.
The limitations of Sen. Bernie Sanders’s fundraising and donor base became clear on Tuesday, too. Despite being the most successful fundraiser in the Democratic race with the largest online grass-roots donor base, Sanders was trailing Biden’s delegate count as of Wednesday afternoon.Compare your wealth: What Bloomberg’s half-billion dollars in campaign spending would cost you on your budgetFar from it.
While candidates face certain spending restrictions on their donors’ money after they drop out of a race, Bloomberg can simply give the money back to himself. He can use unlimited amounts of his personal funds to run ads or can donate money to super PACs, such as the pro-Biden group Unite the Country, or his own super PAC, Independence USA.
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