A recent report in the New York Times stated that spending on 2010 Congressional campaigns was now up to more than $2 billion, a huge increase from the last mid-term election in 2006. Some experts attribute this to the Supreme Court decision relaxing spending and reporting requirements on political advertising. Apparently, hundreds of millions of dollars are being spent by private citizens and companies, with the majority of funds going to support the Republican Party and its causes.
Billions of dollars may seem like a lot of money but it’s not really – only about $4.2 million per seat - considering that some 472 House and Senate seats are up for grabs. In fact, I would argue that the public would be better served if our government auctioned off each seat and used all of the proceeds to reduce the national deficit. In fact, seats in areas of key interests to lobbyists, such as New York City, could be sold for as much as $50 - $100 million per seat.
There are several advantages to this proposal. First, money that is now being paid to campaign managers, marketing companies, television stations etc., could be paid to lower the national deficit instead. Second, the public wouldn't have to listen to all the campaign trash on TV and radio. Third, it would ensure that all Congressmen and women make a contribution to our government as part of the election process. Clearly, they haven’t been contributing enough after election.
