Wasteful Spending by Millionaire Politicians Who Preach Fiscal Discipline
Take a look how these self-funded candidates have wasted millions of their own money in pursuit of public office. Why should you trust them to spend your tax dollars wisely?
Meg Whitman, Republican candidate for Governor of California
Self-Funding: Estimated at $140 million
Key Campaign Issue: Fiscal discipline, cut government spending, lower taxes, create jobs
Result: Loss. The former e-Bay CEO earned only 3.7 million votes while her Democratic opponent won with 4.8 million votes. The winner, Jerry Brown, only spent around $25 million, a fraction of Whitman’s campaign budget. Awful ROI for Whitman.
Total Spending: $40 million (as of 10/13/10)
Self-Funding: $46 million (source: FEC)
Key Campaign Issue: “Fiscal Discipline”
Result: Loss. The former CEO of WWE spent nearly $100 for every vote she received. In comparison, Democrat Richard Blumenthal spent less than $11 per vote he received and beat McMahon by more than 10 points.
Amount Spent: $16.6 million (as of 10/13/10)
Self-Funding: $6.5 million (source: FEC)
Key Campaign Issue: Restoring fiscal accountability
Result: Loss. The former CEO of Hewlett-Packard lost decisively to incumbent Democratic Senator Barbara Boxer by nearly 10 percent. At least Fiorina can take comfort in the fact that she forced Boxer to spend $22 million in the hard-fought campaign.
The three Republicans collectively spent nearly $200 million this year, largely using their own personal wealth. If their intentions were truly altruistic, imagine what a difference $200 million could have made to help their communities. Can you think of better ways to spend $200 million that would have helped create jobs and improve our economy? Vote or submit your answers in the poll below!
- Forbes.com: Wealthy, self-funded candidates found wins elusive
- WashingtonPost.com: GOP women lost despite cash and business savvy
- WashingtonPost.com: Election 2010: Spending on midterm campaigns could affect 2012 race
- Meg Whitman for Governor 2010 campaign spending records (source: California Secretary of State)
- Carly Fiorina for Senate 2010 campaign spending (source: OpenSecrets.org)
- Linda McMahon for Senate 2010 campaign spending (source: OpenSecrets.org)