In the entertainment industry, there are several events at which individuals are lauded for their talents. Most notably is the Academy Awards which was held recently. One of that event’s most famous lines is “May I have the envelope, please?” The second and most anticipated is “And the winner is . . . .”
While this event occurs annually, there is another special occasion that enthralls our nation every four years—the presidential election and the build up to it. This year is most unusual because it is the first time in 40 years that the campaign has not involved a candidate who is either a sitting president or vice president.
Even though we know who will carry the Republican banner, we are still uncertain as to who will be the Democratic nominee. We do know, however, that a winner in Texas has been declared. I’m not referring to any particular senators. Rather, I’m referring to the state’s economy which has benefited greatly from the political spending that has occurred during the past several weeks.
Since campaigning began about a year ago with a double handful of hopefuls, the choices have narrowed immensely. Candidates from both parties raised a total of more than a half a billion dollars in 2007 alone to further their campaigns. Since January, Senators Barack Obama and Hillary Clinton, the two most prolific fundraisers, have added over $130 million to their campaign coffers. Senator John McCain, the leading Republican candidate, and Governor Mike Huckabee received a combined total of about 20% of that amount during the first two months of 2008. So, how does the candidates’ money raising make the Lone Star State a winner?
Of the many millions collected and spent during the weeks leading up to the Super Tuesday event on February 5, very little of it saw its way into Texas. However, when that vote failed to determine a nominee for either political party, money began to pour into the Lone Star State as candidates sought to woo voters to their side. Large amounts of cash were also put into the economies of Ohio, Vermont, and Rhode Island in anticipation of those four states’ primaries which also were held this past Tuesday.
Normally, about 43% of the expenditures from all president candidates goes for administrative purposes, which includes salaries, supplies, equipment, furniture, miscellaneous materials, rentals, special events, and postage and shipping. Another 28% is designated for media expenses. A specified amount of money is used in each state in which candidates focus their attention for a particular primary.
In the case of this week’s primary in the Lone Star State, the money spent by the candidates was a welcome infusion into a variety of business enterprises, ranging from pizzerias and printing companies to publicity and promotional generators.
Almost $17 million went for television advertisements, and millions more were spent for radio and newspaper ads, along with direct mailings. Even the amount expended on food and lodging for the paid staffers and volunteers in the more than 50 campaign offices scattered across the state was substantial.
Currently, there are approximately 240 days before the general election in November. After the nominees for each party are officially chosen at their respective conventions in August and September, the campaign to secure Texas’ 34 electoral votes (second highest of all 50 states) will get underway. Although generally regarded as a “red” state, the turnout and excitement of the recent primary has put the state back in play. Thus, in a few months, the politically induced expenditures will once again flow to the Lone Star State.