Campaign Cash: Big Bucks In 2005
The old saying may be that "numbers don't lie", but expect an awful lot of political spinning over the meaning of 2005 year-end campaign finance reports that are supposed to be filed by the end of today.
Hundreds of pages of documents show how much money any given candidate or campaign either raised, spent, or has left in the bank. And not surprisingly, the most dizzying spin is coming from candidates trying to get some publicity for their 2006 campaigns by showing off the size of their existing war chest.
But before we get to 2006, first the numbers from 2005... in particular, the special election that saw voters reject all 8 ballot initiatives:
(Keep in mind the total contributions and expenditures aren't always equal, as some campaigns had money in the bank before 2005 and others still owe money spent last year)
* The Main Players: It seems fitting to begin with Governor Arnold Schwarzenegger, the driving force behind the special election. The governor's main operation, his California Recovery Team, reports raising some $44.1 million last year, and spending approximately $45.5 million. The CRT had just over a half million bucks left in the bank as of New Year's Eve.
Of course, that was only part of what was raised and spent in support of the governor's efforts. Other committees were also involved, including the pro-business Citizens To Save California (almost $12 million raised, about the same amount spent); and separate committees to help fund the ill-fated "yes" campaigns for the union dues measure Proposition 75 ($4.5 million raised, $4.6 million spent) and the redistricting initiative Proposition 77 ($8.5 million raised, $9.2 million spent).
On the other side, two campaign reports stand out. The consortium of unions battling the governor, known as the Alliance For A Better California, reports raising almost $35.3 million and spending $39.8 million in 2005. And the biggest numbers come from the California Teachers Association. The CTA's main campaign committee raised almost $62.3 million and spent almost $58.5 million.
* The Biggest Spender?: It may too soon to make an official declaration, but the single campaign that seems to have raised and spent the most in the 2005 special election appears to be the Pharmaceutical Research and Manufacturers of America (PhRMA), the industry group that failed to convince voters to approve the drug discount measure Proposition 78, but likely walked away happy that voters at least rejected the consumer group's version of cheaper drugs, Proposition 79.
Drug companies belonging to PhRMA handed over a whopping $80.35 million for the prescription drug campaign, and PhRMA's political campaign ended up costing some $83.6 million.
* Party Time: And last but not least, for the two major political parties it was also an expensive year. The California Republican Party raised more money than the California Democratic Party, but it spent more, too.
The GOP raised $14.4 million in 2005 and spent $15 million, while Democrats raised about $10.7 million and report spending about $8.7 million. The most important numbers for the parties, heading into a major election year, may be what's left in the bank: $6 million for Democrats, and only about $918,000 for Republicans.
