Unfettered Money: The Enabling Of Campaign “Speech”
When the Supreme Court ruled that money equals speech 35 years ago, it was responding to forces of technology and economics reshaping American politics that made it much more expensive to run a campaign. While ruling that public financing and limits on contributions are valid ways to limit donors’ undue influence, it struck down candidate, campaign and independent spending limits.
Now the court’s conservative majority is again reshaping politics, ruling that what matters most for money and speech is their “fair market” impact. The result will be closer scrutiny of public financing, while enabling even more rampant spending by wealthy candidates.
In the landmark 1976 case of Buckley v. Valeo, the court said that “virtually every means of communicating ideas in today’s mass society requires the expenditure of money,” so restricting campaign spending meant restricting political speech. The First Amendment required that political speech be unfettered, so the same was required for political spending.
But when the court ruled that money equals speech, it didn’t mean, literally, that money is speech. It meant that money enabled speech. A political contribution enabled the symbolic, or indirect, speech of the donor and the actual speech of the candidate — and may the best speech win. The focus was on enabling the speech, not the money.
That changed in 2008 when the conservative majority struck down a federal rule that had tripled the limit on campaign contributions for a candidate outspent by a rich, self-financed opponent. Justice Samuel Alito Jr. wrote that the rule diminished “the effectiveness” of the rich candidate’s spending and of his speech.
In oral argument recently, the court’s conservatives appeared ready to take their next step in restricting campaign finance reform and to strike down Arizona’s public financing mechanism called triggered matching funds. This is one of the most compelling innovations in the country. The state will match for a state-financed candidate what an opponent raises in private contributions up to triple the initial amount of state financing.
To William Maurer, the lawyer opposing the Arizona mechanism, whenever “a privately financed candidate speaks above a certain amount, the government creates real penalties for them to have engaged in unfettered political expression.” That “speaks” was not a slip, but a reinforcement of the money-equals-speech notion.
The fundamental problem, he said, is “the government turning my speech into the vehicle by which my entire political message is undercut,” because the public funds triggered are a penalty that reduces the impact of the privately financed candidate’s spending and speech. Chief Justice John Roberts Jr. made clear in the argument that he, too, sees triggered matching public funds as a limit on the privately financed candidate’s speech.
That makes no sense. Arizona’s mechanism means more candidates — not just the wealthy — will be able to run in elections. And that means more political speech, not less. But that view depends on seeing money as enabling speech, not vice versa. Money already has far too much sway everywhere in politics. If the court continues this way, the damage and corruption will be enormous.
By: Editorial, Opinion Pages, The New York Times, April 11, 2011
Grave Consequences: Wall Street Tells John Boehner To Back Off The Debt Ceiling
Republicans are growing increasingly concerned about the impact a bruising fight over raising the nation’s $14.29 trillion debt ceiling could have on U.S. financial markets.
House Speaker John Boehner (R-Ohio) has had conversations with top Wall Street executives, asking how close Congress could push to the debt limit deadline without sending interests rates soaring and causing stock prices to go lower, people familiar with the matter said. Boehner spokesman Michael Steel said Tuesday night that he was not aware of any such conversations.
Treasury Secretary Timothy Geithner has warned Congress that without new borrowing authority, the federal government could hit the statutory debt limit by May 16.
Treasury could then implement emergency measures to continuing making interest payments on existing debt until around July 8. After that, the U.S. risks going into default, an unthinkable idea to many economists and market participants who say such an event could drive scores of large banks into failure, send interest rates skyrocketing as foreign investors abandon U.S. securities and crush the already slow-going economic recovery.
Republicans and even some fiscally conservative Democrats want to use the debt limit fight as leverage to wring more significant spending cuts out of the White House. Politicians of all stripes are worried about how independents will react to a vote — or multiple stop-gap votes — to raise the debt ceiling. Many executives on Wall Street believe Washington is playing an enormously dangerous game with what is typically a non-controversial vote.
Sen. Chuck Schumer (D-N.Y.), who leads the Senate Democrats’ messaging efforts, expressed anger that Boehner was searching for leeway on the debt limit.
“The speaker seems to be testing out how far he can venture onto a frozen lake before the ice breaks. He should listen to business leaders who are telling him to watch his step. Messing around with the debt ceiling just to satisfy the tea party will lead to higher interest rates and an economic cataclysm.”
The Wall Street executives say even pushing close to the deadline — or talking about it — could have grave consequences in the marketplace.
“They don’t seem to understand that you can’t put everything back in the box. Once that fear of default is in the markets, it doesn’t just go away. We’ll be paying the price for years in higher rates,” said one executive.
Another said that “anyone interested in ‘testing’ the debt ceiling should understand the U.S. debt traded wider [with a higher yield] than Greek debt roughly five years ago. Then go ask CBO what happens to our deficits/public debt to GDP, if the 10-year [Treasury bond] goes from 3.5 percent to 5.5 percent to 7.5 percent.” The executive said such an increase would result in a downgrade of U.S. debt by ratings agencies and an end to the dollar as the standard global reserve currency.
By: Ben White, Politico, April 13, 2011
What Paul Ryan’s Constituents Think And Why It Matters
Rep. Paul Ryan’s (R) Wisconsin district isn’t competitive. Over the last decade, his most competitive race was the one he won by “only” 26 points. Last year, the margin was 38 points.
But when the Associated Press checked in with some of the far-right congressman’s constituents, they were aware of their representative’s plan to eliminate Medicare, and they weren’t exactly on board with the plan.
Brian Krutsch has been long one of many automatic votes here for Rep. Paul Ryan…. But this week, admiration has been tinged with apprehension as one of Ryan’s signature ideas — ending Medicare’s status as a full, guaranteed benefit for senior citizens — suddenly took a step toward reality.
“I think that’s one of the things they should probably leave alone — you know — unless it’s absolutely necessary,” Krutsch said as he took a break from reviewing job openings at the Rock County Job Center. “Old people need help with medical bills. There’s too many people under-insured right now — especially people like myself right now who don’t have insurance.”
Howard Gage, a 74-year-old Medicare recipient who owns a three-person video-production company, said he has voted for Ryan in all seven races, still supports the congressman and likes him as a person. But, he added, it’s hard to accept that fixing the budget should mean that his family wouldn’t receive the same Medicare benefits that he relies on.
“It bothers me that my kids or grandchildren might be affected by whatever has to be done” to curb spending, he said.
At face value, it’s interesting that those who elected Ryan aren’t at all sold on Ryan’s vision. If they’re not on board, it stands to reason more vulnerable Republican lawmakers from more competitive districts have reason to be concerned, and may very well balk at embracing such a radical move that won’t pass anyway.
But there’s more to it than that. As Greg Sargent explained, “These folks are worried about doing away with Medicare as we know it, but they are grappling with whether or not this will be necessary to put the nation on firmer fiscal footing.”
Right. Reading the piece, it seems these folks want to do the right thing. They’re uncomfortable with an extreme overhaul of Medicare, but they’re willing to listen to what’s “absolutely necessary.”
But the point is, the privatization of Medicare isn’t “necessary” at all. It won’t even lower health care costs. Paul Ryan’s plan is ostensibly about debt reduction, but even that’s a charade — he’s going after entitlements and other domestic priorities while slashing tax rates for the rich.
Or as Greg added, these voters “are proceeding from the premise that Ryan’s Medicare proposal is about fixing our fiscal situation in a way that would spread the pain around evenly — and not aware that it would shift the burden for fixing our fiscal situation downward, in keeping with conservative tax-cutting ideology.”
Guess what message Democrats should be pushing right now? Or put another way, what do you suppose those folks in Southeastern Wisconsin would say if they knew going after Medicare wouldn’t be at all necessary if Ryan weren’t so desperate to give millionaires another massive tax break?
By: Steve Benen, Washington Monthly-Political Animal, April 11, 2011
Speaker Boehner In The Temple Of Tea Party Doom
Speaker of the House John Boehner looked as tanned and dashing as Indiana Jones escaping the Temple of Doom last week. He came out alive. He captured some treasure in the form of budget cuts. His friends shake their heads in amazement.
But the worried look on our hero’s face is a sly clue that he knows this is not the end of the movie. It is the start. And the worst is yet to come.
When the Speaker told ABC last week that there is no “daylight” between him and the Tea Party Caucus it was because they are wrapped around his neck like an albatross.
The Tea Party’s tremendous success in the mid-term elections elevated him to the speaker’s chair. But the Tea Party freshmen are all about talk radio rhetoric, campaign slogans and reveling in the widespread discontent with American politics. They have yet to display any capacity to govern.
By forcing the nation to wait on a last-minute deal, the Speaker was able to go back to his Tea Party freshmen and claim he got the best deal possible from the Democratic majority in the Senate and the President. But what he demonstrated to moderate and independent voters, as well as Republicans not entranced by the Tea Party, is that the least experienced, most extreme elements of the party are now defining the Republican brand with hysterical stunt governing.
The Speaker has been around long enough to know Republicans got blamed in the last government shutdown and he told his caucus they likely faced the same fate if there was a shutdown this time. But with widespread doubts among the freshmen as to whether Boehner is sufficiently conservative because he is willing to negotiate with Democrats the Speaker had to pretend he was not compromising. After his long, steady climb to power in Congress it is incredible and sad Boehner now finds himself unable to present himself as a trustworthy, responsible steward of the American government.
That is not the image the Tea Party freshmen want from the Speaker. They want him pulling stunts. They want to hear him attacking the President and calling out the Democrats in Congress as big spenders. And the Tea Party had veto power over the deal.
It is no wonder the Speaker reportedly complained to the Tea Party Caucus early last week that he felt they “abandoned” him when 54 of them voted against him on a continuing resolution.
This is the Tea Party that delighted in the theatrics surrounding a possible shutdown even after Democrats met the GOP’s original demand for more than $30 billion in budget cuts.
And that was before Tea Party freshmen made the Speaker and their own party look shallow and hysterical by turning a serious fight over cutting the deficit into a sideshow on abortion when spending federal money on abortion is already banned.
The polls that once showed Democrats and Republicans sharing blame over a shutdown began to shift against the Republicans. Self-identified Tea Party members made up the lone group open to a shutdown. And in a key shift brought on by the Republican hard-line, the independents who voted with Republicans last fall and said government was too intrusive now tell pollsters they want government to do more.
In a column for the National Journal last week, ace political handicapper Charlie Cook wrote: “Among the worries the party now has is that a government shutdown could get blamed on the GOP.” Looking ahead to debates about major cuts to entitlement spending, such as Medicare, in the 2012 budget, the Republicans now seem to have squandered credibility. Cook concluded that “these party insiders believe that taking on entitlements, specifically Medicare, could jeopardize the party’s hold on the House, its strong chances of taking the Senate and the stronghold that the party has established with older, white voters — not coincidentally, Medicare recipients.”
But the Speaker apparently felt he had no choice but to dance to the tune set by the Tea Party freshmen because he is leery of the ambitious young guns on his leadership team, Majority Leader Eric Cantor (R-Va.) and Budget Committee Chairman Paul Ryan (R-Wis.). They are developing their own lines of loyalty among the Tea Party freshmen.
Boehner has seen this movie before. He was a freshman in 1997 when a member of Speaker Newt Gingrich’s team, Rep. Bill Paxon of New York, launched a coup against Gingrich. In addition, elements of the Tea Party are already looking for a candidate to run against Boehner on the charge he is too willing to compromise with Democrats.
Democrats are happy with a weakened Boehner because every public stumble gives middle-of-the road swing voters more faith in President Obama and Senate Majority Leader Harry Reid (D-Nev.). With more budget battles coming soon, the Democrats are looking like steady hands, sensible statesmen as opposed to the reckless and political Republicans.
That leaves Boehner with little running room as the next series of battles over the debt ceiling and next year’s budget comes. At the last hour he survived last week’s fight. But the future does not look good for our hero.
By: Juan Williams, Opinion Writer, The Hill, April 11, 2011
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