America is worried about its democracy in this election year. The power of money in our politics, long a scandal, has now become a disaster. Elections are fought mainly on television, in a battle of endless and hugely expensive political ads, and candidates are trapped in spiraling arms races of fund-raising, desperately trying to raise more than their opponents. The New York Times estimates that the 1996 presidential race will cost between $600 million and $1 billion, that it now takes at least $5 million to run a successful Senate campaign—in some states as much as $30 million—and that even a seat in the House can cost $2 million.[1]
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