Dem billionaires Steyer and Bloomberg already have spent a combined $200 million in quest for presidency

Remember when the Democrats thought “money politics” was a bad thing? That moral certainty started to crumble when Hillary Clinton outspent Donald Trump by a factor of at least 2, and still went down to defeat. And while vilifying Wall Street makes for good progressive virtue-signaling, the Dems are now the party of plutocrats, buying with welfare and money transfers the support of an underclass kept angry and dependent by progressive policies that hamper job-creation and reward idleness and dependency.

President Trump’s tax and regulations cuts have boosted job growth and income at the lower end of the market, imperiling this strategy, but that hasn’t stopped the billionaires lusting for power and still welcome in the party. Maya King of Politico writes:

Together, Tom Steyer and Michael Bloomberg have poured nearly $200 million into television and digital advertising alone, with the former New York mayor spending an unprecedented $120 million in the roughly three weeks since he joined the presidential race. That’s more than double the combined ad spending of every single non-billionaire candidate in the Democratic field this entire year.

“We’ve never seen spending like this in a presidential race,” said Jim McLaughlin, a Republican political strategist who worked as a consultant for Bloomberg’s mayoral bids in New York. “He has a limitless budget.” (snip)

 Steyer isn’t spending at the same stratospheric levels as Bloomberg, yet with $83 million in ad buys so far, he’s still far outpacing everyone other than his fellow billionaire. The next highest spender on ads is Pete Buttigieg at $19 million.

Many readers know that political consultants love campaign advertising because they get a percentage of the spend in compensation, often 15%, which really adds up when a budget of $120 million is up for grab. And that’s just for 3 weeks.

 Bloomberg is stiff-arming the early primary states, but Steyer,who has been in the race much longer, is spending gigantic sums in small and inexpensive media markets in the first 4 states:

Steyer is largely focused on the four early voting states. He has spent nearly $37 million in Iowa, South Carolina, Nevada and New Hampshire — much of it on digital ads. Since joining the race in July, he’s more than doubled the combined ad spending of Buttigieg, Joe Biden, Bernie Sanders and Elizabeth Warren in the early states.

Joel Pollak of Breitbart points out that so far, the money hasn’t bought much:

…according to the RealClearPolitics national poll average, Bloomberg is languishing in fifth place, with 5%. Steyer is doing even worse, in tenth place, with 1.5%.

Steyer improves to seventh in Iowa (2.5%) and New Hampshire (2.7%), sixth in Nevada (3.5%), and fifth in South Carolina (4.0%). Bloomberg’s best result in an early primary state appears to be in California, where he is sixth (3.3%).

I don’t think either man has a chance of capturing the Dems’ nod, but they do have the potential to create mischief.  Steyer already bankrolled a push toward impeachment that succeeded in forcing the House to vote out the lamest articles of impeachment in history. And Bloomberg is planning to sink huge resources into not only his own campaign, but into Democrat congressional races, where advertising can be far more effective, since most voters have much less knowledge of their own congressional candidates than they do of presidential races.

Scrooge McDuck's Money Bin has nothing on the resources of Steyer or Bloomberg.

Via Disney.fandom/wiki

Remember when the Democrats thought “money politics” was a bad thing? That moral certainty started to crumble when Hillary Clinton outspent Donald Trump by a factor of at least 2, and still went down to defeat. And while vilifying Wall Street makes for good progressive virtue-signaling, the Dems are now the party of plutocrats, buying with welfare and money transfers the support of an underclass kept angry and dependent by progressive policies that hamper job-creation and reward idleness and dependency.

President Trump’s tax and regulations cuts have boosted job growth and income at the lower end of the market, imperiling this strategy, but that hasn’t stopped the billionaires lusting for power and still welcome in the party. Maya King of Politico writes:

Together, Tom Steyer and Michael Bloomberg have poured nearly $200 million into television and digital advertising alone, with the former New York mayor spending an unprecedented $120 million in the roughly three weeks since he joined the presidential race. That’s more than double the combined ad spending of every single non-billionaire candidate in the Democratic field this entire year.

“We’ve never seen spending like this in a presidential race,” said Jim McLaughlin, a Republican political strategist who worked as a consultant for Bloomberg’s mayoral bids in New York. “He has a limitless budget.” (snip)

 Steyer isn’t spending at the same stratospheric levels as Bloomberg, yet with $83 million in ad buys so far, he’s still far outpacing everyone other than his fellow billionaire. The next highest spender on ads is Pete Buttigieg at $19 million.

Many readers know that political consultants love campaign advertising because they get a percentage of the spend in compensation, often 15%, which really adds up when a budget of $120 million is up for grab. And that’s just for 3 weeks.

 Bloomberg is stiff-arming the early primary states, but Steyer,who has been in the race much longer, is spending gigantic sums in small and inexpensive media markets in the first 4 states:

Steyer is largely focused on the four early voting states. He has spent nearly $37 million in Iowa, South Carolina, Nevada and New Hampshire — much of it on digital ads. Since joining the race in July, he’s more than doubled the combined ad spending of Buttigieg, Joe Biden, Bernie Sanders and Elizabeth Warren in the early states.

Joel Pollak of Breitbart points out that so far, the money hasn’t bought much:

…according to the RealClearPolitics national poll average, Bloomberg is languishing in fifth place, with 5%. Steyer is doing even worse, in tenth place, with 1.5%.

Steyer improves to seventh in Iowa (2.5%) and New Hampshire (2.7%), sixth in Nevada (3.5%), and fifth in South Carolina (4.0%). Bloomberg’s best result in an early primary state appears to be in California, where he is sixth (3.3%).

I don’t think either man has a chance of capturing the Dems’ nod, but they do have the potential to create mischief.  Steyer already bankrolled a push toward impeachment that succeeded in forcing the House to vote out the lamest articles of impeachment in history. And Bloomberg is planning to sink huge resources into not only his own campaign, but into Democrat congressional races, where advertising can be far more effective, since most voters have much less knowledge of their own congressional candidates than they do of presidential races.

Scrooge McDuck's Money Bin has nothing on the resources of Steyer or Bloomberg.

Via Disney.fandom/wiki