Sunday, August 21, 2011

DEMOCRACY IS FOR PEOPLE

“Money and Democracy Update” is Public Citizen’s weekly e-newsletter about the intersection of money and politics. It is part of our ongoing campaign to track the results of — and ultimately overturn — the U.S. Supreme Court’s reckless decision in Citizens United v. Federal Election Commission, which allows for-profit corporations to spend unlimited amounts of money to support or attack political candidates. We’ll update you regularly with select news stories and blog posts, legislative developments and ways to get involved.

Stunning Statistics of the Week:

Contributions and cuts
Members of the “super committee” created to find $1.2 trillion to cut from the budget have received $64.6 million from political action committees and other industry groups representing the health care industry, financial industry, defense contractors and more. It’s hard to imagine that campaign money won’t affect the super committee’s recommendation, which is even more of a reason that the committee members should stop fundraising while they do their work, as two dozen public interest groups have called for.

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As Jim Hightower explains it, is that “the wealthiest 1 percent of Americans possess more net worth today than the bottom 90 percent of us combined. Worse, these privileged few and their political henchmen have structured a new economic ‘normal’ of long-term joblessness, low wages, no benefits or worker rights, miserly public services, and a steadily widening chasm between the rich and the rest of us.” We must restore sanity to this nation.