Today, running for the nation?s highest office has become so costly that by the time the November election rolls around total presidential campaign spending will, in all likelihood, easily exceed $1 billion for the first time in history. From Day One of every presidential campaign, how well candidates fare in amassing their war chests is a critical factor in how they are portrayed by the press and in how well they can make their cases to the public. As the amount of money that pours into the process has grown, so has concern about its influence. Reducing the influence of money in politics has been a long, difficult, and continuing struggle since the nineteenth century. Throughout the nation?s history, as soon as new campaign-finance reforms are enacted, inventive political strategists and lawyers dream up ways to circumvent them. This piece focuses on the campaign finance reforms that were enacted after Watergate and explains how we reached the point where, in the current campaign, Barack Obama, Hillary Clinton and John McCain are raising untold sums. This piece contains essential knowledge for anyone who's wondered why politicians are allowed to raise and spend money without revealing where their funds are coming from or where they are going.

Today, running for the nation?s highest office has become so costly that by the time the November election rolls around total presidential campaign spending will, in all likelihood, easily exceed $1 billion for the first time in history. From Day One of every presidential campaign, how well candidates fare in amassing their war chests is a critical factor in how they are portrayed by the press and in how well they can make their cases to the public. As the amount of money that pours into the process has grown, so has concern about its influence. Reducing the influence of money in politics has been a long, difficult, and continuing struggle since the nineteenth century. Throughout the nation?s history, as soon as new campaign-finance reforms are enacted, inventive political strategists and lawyers dream up ways to circumvent them. This piece focuses on the campaign finance reforms that were enacted after Watergate and explains how we reached the point where, in the current campaign, Barack Obama, Hillary Clinton and John McCain are raising untold sums. This piece contains essential knowledge for anyone who's wondered why politicians are allowed to raise and spend money without revealing where their funds are coming from or where they are going.