Where’s The Money?

By Josh Schoenblatt


Elections are a stressful time where everyone focuses on the smallest details. One of those details is money. During an election season, we the people created the Federal Election Commission (FEC) to monitor and enforce fundraising rules so that a politician is not bought by a large corporation with plenty of disposable money.

However, once the election is over, and fundraising for the inaugural ball begins, things change. The rules are quiet looser with limited rules.

“The Federal Election Commission requires full disclosure of all inaugural donors, though the reporting deadline is not until three months after the event. But while donations must be disclosed, expenditures need not be.” ~Eliza Newlin Carney

Along with these rules, President Obama has changed his views on how much money he will accept from a person or corporation. For 2008, President-Elect Obama set a limit of $50,000 donations from individuals and would not accept any money from corporations. However, this year President Obama is unlimited amounts of money from corporations.

This has led to people questioning President Obama’s intentions. In the news, there are reports and speculations as to where the money is going. And after reading a few of them, I think the logical answer is would be a Presidential Library.

Every president builds a library in their honor after their term in office. Its a way for them to leave another legacy for the future generations to look at. While listening to a speech from Stephen Hess from the think tank Brookings, he explained that almost every president works to build their legacy in their second term. This makes sense because it’s their last four years leading the country. If they do not start now, it will never happen.

President Obama came into the elections and inaugural balls in 2008 taking the moral high ground. It was a path that is rarely taken by politicians. Yet this year is different. Does it mean that President Obama is changing? Will we see a new Obama that may follow the political way instead of the moral high ground path? And has Illinois corruption finally caught up with the President?

I am not sure what exactly this means for the President and the outlook on his policies, but I can tell you that Americans will scrutinize it.

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