A New Stimulus Plan: Keep the Campaign Going

Let’s face it, in our slumping economy, there is only one growth industry left: Political campaigns. Well, maybe two, if you count bankruptcy lawyers, but we’ll worry about them another time.


Think of it, while consumption on everything from autos to sofas has slowed to a trickle, campaign spending is booming. Candidates this year have raised—and are likely to spend—in excess of $5 billion. Barack Obama alone may spend something approaching $1 billion.



Even better, it is all domestic consumption. With a normal fiscal stimulus, a lot of money leaks overseas as consumers buy stuff like Korean HDTVs or Malaysian shirts. The banks seem to be mostly hoarding the $250 billion Treasury just gave them. But politicians never leave a nickel on the table, and they spend almost every cent at home. Consultants. Phone banks. Hotel rooms. Beer. Media buys for all those ads with the ominous music. Even the bumper stickers and yard signs are made in the USA.