$$ = Democracy

Again I revisit the topic of whether Democracy can be bought. Yet again, the United States have proven that it is indeed do-able.

Recently, President Obama have been busy with constructing a million-dollar presidential campaign, funded by PACs. For those of us who don’t know what PACs are: the full name is political action committee, which is used to advance a particular political objective. These contributions are made in excess of $1000 in hope to alter the outcome of federal elections. To put this in perspective, the level of funding is as follows,

“The new joint effort, fundraisers stress, is expected to be contingent on pulling together a group of super donors who collectively would pony up between $40 million and $100 million. Fundraisers note that it’s important to potential big individual donors that if they write checks in the $5 million range, their contributions would be matched by several others.”

Source: http://www.iwatchnews.org/2012/02/08/8111/democratic-operatives-seeking-million-dollar-checks-super-pacs

It is said that this is a very cynical move by President Obama, who, last year, called the PACs a “threat to democracy”. What do you think? Is it necessary in a capitalist society? Or is it just a scam? Personally, I understand the position of President Obama, yet still feel disappointed with his choice of compromising his strong conviction for fighting against corporate-dominated politics. What say you?