FACT: 2024 Elections Will Break THIS Record

Presidential Election 2024 sign on American flag

(TheIndependentStar.com) – In an unprecedented development, the 2024 election spending is projected to hit a record $16 billion, exposing the intense monetary pressures shaping American democracy.

As super PACs flood the election with over $5 billion, the influence of big money raises serious concerns about fairness and transparency.

The escalating cost of democracy in the United States is reaching previously unknown levels.

According to OpenSecrets, the upcoming 2024 federal election is expected to cost at least $15.9 billion, marking it possibly the most expensive in U.S. history.

This massive financial surge is primarily fueled by outside groups, including super PACs, which have already poured $2.6 billion into the elections, with projections suggesting this figure could exceed $5 billion by Election Day.

The Citizens United decision in 2010 significantly amplified the role of money in elections, allowing unlimited corporate contributions to sway political outcomes.

Today, the top 10 individual donors alone have contributed $599 million, about 7% of total federal election fundraising.

Alarmingly, while small donors who contribute under $200 account for 16% of money raised, this marks a decrease from 22% in 2020.

The trend reveals a growing dominance of wealthy individuals over average citizens in political financing.

“Spending on the 2024 election cycle started slowly but ramped up significantly when Vice President Harris took over the Democratic nomination,” said Sarah Bryner, OpenSecrets’ Director of Research and Strategy.

Super PACs connected to presidential candidates are major spenders in this election cycle.

Make America Great Again Inc. has already spent over $239 million for Trump’s campaign, while Future Forward committed over $212 million for Democrat candidates.

Such figures illustrate the playing field’s tilt towards mega-rich donors.

Harris and the Democrat Party are projected to have raised about $1 billion from July through September 2024, overshadowing Trump and the Republican Party’s $430 million.

The flooding of campaign finances doesn’t omit congressional races, with Democrats reportedly outspending Republicans in the Senate by over $150 million.

The campaign funds are considered more valuable than super PAC money for activities like Get Out the Vote efforts, yet the concentration of spending in key battleground states underscores a strategic, albeit daunting, investment in political control.

“There may be a saturation point where elections can no longer get more expensive, but we haven’t reached it yet,” noted Brendan Glavin, OpenSecrets’ Deputy Research Director.

The increasing power of billionaires and super PACs in shaping electoral outcomes raises questions about the actual representation of the people.

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