How Much Will it Cost to Become President In 2016?
How Much Will it Cost to Become President In 2016?
Presidential elections are expensive. It may not seem like it
should cost so much to stand on a stage and tell people why they should
vote for you. But getting your name out there tends to run up quite the
tab. When you sit down to consider how much it will all cost, and you
figure in staff, airfare, radio/TV/print ads, speaking engagements, and
everything else, it is easy to see that those costs can skyrocket
rapidly.
Nearly every presidential election costs more than the one before it. So what will the election in 2016 end up costing? Let’s look at how much the top candidates have already spent, and then make an assessment of how much they will spend going forward.
Donald Trump: Trump has claimed to be entirely self funding his campaign. While he may have started out that way, those claims are no longer true. That’s not to say that a man worth $4.5 billion couldn’t fund his own campaign. But why risk your own money when people are willing to risk theirs?
After just a few months of raising money, campaigning, and vying for the nomination, the Trump campaign has raised $5.8 million (of which $1.8 million is Trump’s own money), and spent $5.6 million.
Ben Carson: Dr. Ben Carson shot to popularity despite being relatively underrecognized in the early part of the campaign (perhaps because Trump was getting all of the attention).
The former neurosurgeon has raised $31.4 million, and spent $20.1 million of that money.
Bernie Sanders: Sanders is well known for his ideas on giving back to the little guy, making education free (or at least cheaper), and criticisms of the super-rich for their greed.
The Senator from Vermont has brought in $41.5 million, and spent $14.3 million. It must be acknowledged that he refuses to take Super PAC and other PAC money.
Hillary Clinton: Hillary has a huge network for fundraising (in part due to her connection with Bill Clinton). She has brought in the most out of the front runners for the candidacy.
Former Secretary of State Clinton has raised $77.5 million, and spent $44.5 million.
Keep in mind that these are the current front-runners. We didn’t even touch on the fact that Jeb Bush has raised the most money so far ($133.3 million). (See also: Where Presidential Candidates Get Campaign Funding.)
So far, all of the presidential candidates combined have raised $518.4 million, and they have spent $153.6 million. They still have a lot of cash on hand, but they will be raising many more millions (likely billions) of dollars.
It is well known that the more a candidate spends on their election campaign, the more likely they are to win. This means that every year more and more money is spent. It has been said that the 2016 election will pale the amount spent in 2012 ($2.6 billion total from both Obama’s and Romney’s campaigns; those number don’t include the primary campaign spending).
We are early in the race to the White House 2016, and the candidates have already raised half a billion dollars. Throughout the next few months they will raise a lot more, and spend a lot more.
By the time it comes down to just 2 candidates, and those candidates start spending money like it’s their job (in a way it is their job), we will see that number skyrocket. Many believe that the campaign in 2016 will double, triple, or even quadruple the spending in 2012.
Most estimates show that the election in 2016 will cost at least $3 billion; many believe it will cost $5 billion; and some even put the number as high as $10 billion.
Just because that number is outrageously high doesn’t mean it is wasted money. Keep in mind that this money provides jobs, paid out to advertisers, campaign workers, airlines, hotels, businesses small and large, and is put back into the American economy. (See also: Social Media Networks That Are Cashing in on the 2016 Presidential Election.)
It’s still a huge number to spend on electing a leader.
Nearly every presidential election costs more than the one before it. So what will the election in 2016 end up costing? Let’s look at how much the top candidates have already spent, and then make an assessment of how much they will spend going forward.
The Top Candidates' Spending
Many candidates from either party are still vying for the nomination. Instead of going through every one of them (about 20 total), we will take a look at the top two from each party. That means we will examine the spending habits of Ben Carson and Donald Trump for the Republicans; Hillary Clinton and Bernie Sanders for the Democrats. Numbers are as of the September 30th filing.Donald Trump: Trump has claimed to be entirely self funding his campaign. While he may have started out that way, those claims are no longer true. That’s not to say that a man worth $4.5 billion couldn’t fund his own campaign. But why risk your own money when people are willing to risk theirs?
After just a few months of raising money, campaigning, and vying for the nomination, the Trump campaign has raised $5.8 million (of which $1.8 million is Trump’s own money), and spent $5.6 million.
Ben Carson: Dr. Ben Carson shot to popularity despite being relatively underrecognized in the early part of the campaign (perhaps because Trump was getting all of the attention).
The former neurosurgeon has raised $31.4 million, and spent $20.1 million of that money.
Bernie Sanders: Sanders is well known for his ideas on giving back to the little guy, making education free (or at least cheaper), and criticisms of the super-rich for their greed.
The Senator from Vermont has brought in $41.5 million, and spent $14.3 million. It must be acknowledged that he refuses to take Super PAC and other PAC money.
Former Secretary of State Clinton has raised $77.5 million, and spent $44.5 million.
Keep in mind that these are the current front-runners. We didn’t even touch on the fact that Jeb Bush has raised the most money so far ($133.3 million). (See also: Where Presidential Candidates Get Campaign Funding.)
How Much Will Be Spent on the 2016 Election?
The presidential election is just getting underway. We haven’t even entered into the season when our mailboxes will be stuffed with oversized advertisements, our television shows will be peppered with political commercials, and the radio will constantly be telling us which presidential politician is better than the other.So far, all of the presidential candidates combined have raised $518.4 million, and they have spent $153.6 million. They still have a lot of cash on hand, but they will be raising many more millions (likely billions) of dollars.
It is well known that the more a candidate spends on their election campaign, the more likely they are to win. This means that every year more and more money is spent. It has been said that the 2016 election will pale the amount spent in 2012 ($2.6 billion total from both Obama’s and Romney’s campaigns; those number don’t include the primary campaign spending).
We are early in the race to the White House 2016, and the candidates have already raised half a billion dollars. Throughout the next few months they will raise a lot more, and spend a lot more.
By the time it comes down to just 2 candidates, and those candidates start spending money like it’s their job (in a way it is their job), we will see that number skyrocket. Many believe that the campaign in 2016 will double, triple, or even quadruple the spending in 2012.
Most estimates show that the election in 2016 will cost at least $3 billion; many believe it will cost $5 billion; and some even put the number as high as $10 billion.
Just because that number is outrageously high doesn’t mean it is wasted money. Keep in mind that this money provides jobs, paid out to advertisers, campaign workers, airlines, hotels, businesses small and large, and is put back into the American economy. (See also: Social Media Networks That Are Cashing in on the 2016 Presidential Election.)
It’s still a huge number to spend on electing a leader.
The Bottom Line
If you follow politics, you know that Bernie Sanders is not a fan of the fundraising aspect of campaigning. But the fact remains that those who spend more have more advertisements, and that means they get their name and face in front of more people. In the end, the one that people see the most of is the one that they vote for. And the biggest spender typically ends up winning.Diversify Your Portfolio With Commodities
Want to learn How to Invest In Commodities? Investopedia’s FREE Commodities Trading newsletter gives you the insights you need to profit from natural resources. Click here to begin tracking the commodity market like an expert today.
Post a Comment