An article on CNN.com discusses the rising costs of running for a congressional seat. A senior fellow who studies elections and campaign finance at the Brookings Institution says that the amount of spending by Congressional candidates in the 1970s would almost be considered "rounding errors" in today's high-stakes political spending sprees.
How much does it cost to get to Washington and make a change?
* In 2010 it cost the winning House of Representatives candidate an average of about $1.4 million, reports the Center for Responsive Politics.
* In 2010, according to the same source, it cost the winning Senate candidate an average of about $10 million.
* In 2010 the average national wage was $39,959.30, according to the Social Security Administration. This means that the average House winner spent 35 times the annual income of the average American full-time worker during his or her campaign. The typical Senate winner spent 250 times the annual income of the average worker.
* In 1992, according to the New York Times, incumbent House candidates spent an average of $292,949 in over the previous 21 months, an amount that had risen 27 percent from 1990. The average incumbent Senator spent $2.35 million. This means that, in nominal dollars, 2010 House candidates spent 4.78 times as much as their predecessors 18 years before, while Senate candidates spent 4.25 times as much. During the election cycle only three House candidates and two Senate candidates raised more money than the incumbents they were facing.
* In 1992 the average national wage was $22,001.92, which meant that the typical incumbent House candidate spent 13 times the annual income of the average full-time worker. The average Senate incumbent spent almost 107 times the annual income of the average worker.
* In 2008, according to the Federal Election Commission, all presidential candidates spent a total of over $1.6 billion during their respective campaigns. Republican nominee John McCain spent nearly $400 million, while Democratic nominee (and election winner) Barack Obama spent nearly $800 million. Even those who did not win their respective political party's nomination spent heavily: Republican Mitt Romney spent over $100 million and Democrat Hillary Clinton spent roughly $250 million.
* According to the FEC, presidential candidates must raise more money earlier than ever before. As of March 31, 2007, there were six candidates who had raised more than $10 million for their 2008 presidential campaigns. On March 31, 2003 there was only one candidate who had raised more than $10 million for the 2004 campaign. As of March 31, 1999 only one candidate, incumbent Democratic vice president Al Gore, had raised even $2 million. The most raised by a candidate by March 31, 1979 in anticipation of the 1980 election? $1.75 million, by Republican Phil Crane.
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