POLITICS

Obama’s corporate-funded campaign

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Politics,Beltway Confidential,Timothy P. Carney

The 2012 Democratic National Convention, like every recent convention, was nothing more than a three-day pep-rally for Barack Obama’s reelection and the candidacies of other Democrats.

And the 2012 DNC, like every recent convention, was funded by tens of millions of dollars from corporations who benefit from the nominee’s policies.

The difference — only that Obama claimed it would be different.

The AP reports on Obama’s broken “no corporate money for this convention” promise:

To help make up for the shortfall, committee officials spent $5 million raised directly from corporations to rent the cavernous basketball arena used as the convention hall. They spent nearly $8 million more from a line of credit provided by Charlotte-based Duke Energy Corp., the nation’s largest electricity provider.

Duke Energy, you’ll recall, has lobbied for and profited from Obama’s green-energy policies that impose costs on taxpayers and ratepayers. Duke is also a major stimulus profiteer, pocketing wind-energy subsidies and other federal grants. Duke, in addition to this line of credit, which may be paid off by other donors — giving after the election — gave more than $5 million outright to the convention.

McGuire Woods LLP also funded the giant Obama rally that was the DNC. The firms lobbying clients include the Pharmaceutical Research and Manufacturers of America (which helped write and profited from ObamaCare), Duke Energy, Blue Cross Blue Shield, Progress Energy, and many more.

CBS reports on other big donors.

 

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