Published: October 06, 2008

Money and Politics - Presidential Campaign The Most Expensive in US History

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Tuesday's presidential debate between John McCain and Barack Obama is sure to center on the ailing state of the American economy and their plans to address the current financial crisis. In conjunction with the debate, Freedom House offers Corruption: Money and Politics, the latest chapter release from its new book-length study, Today's American: How Free?.

This year's presidential campaign, which so far has cost $1.2 billion, is projected to be the most expensive in U.S. history. However, presidential funding is just the tip of the iceberg, with financial backing for congressional races also expected to exceed the $1.16 billion spent in 2004. This comes as investors cope with the U.S. market losing more than $1 trillion in value in September alone.

Corruption: Money and Politics examines recent political corruption scandals, as well as practices that, while technically legal, illicit much public discontent. The chapter also sheds light on whether the U.S. system for detecting and punishing political corruption is effective. It is the third in a series of chapter releases from Today's American: How Free? that Freedom House is offering ahead of the November elections.

"For America to advance democracy abroad, we need to acknowledge our shortcomings, as well as tout our achievements," said Mike McCurry, former State Department and White House spokesman. "In Today's American: How Free? Freedom House provides a forthright and illuminating look at our present condition. This is an authoritative discussion of the state of freedom in the United States."

Freedom House, an independent nongovernmental organization that supports the expansion of freedom in the world, has been monitoring political rights and civil liberties in the United States since 1972.