When being the mayor of New York City isn’t enough, it’s time to start playing with the big boys. In 2012, that means starting a Super PAC. Michael Bloomberg is taking his fabled centrism on the road.
In all, Mr. Bloomberg intends to invest in as many as a dozen House and Senate races, though exactly which ones has not yet been decided because the mayor and his advisers are assessing how the contests are unfolding and where he can have the most impact. He is prepared to invest as much as $1 million in a given race, which is a significant sum, given that some Congressional candidates spend less than $2 million on their campaigns.
The New York Times reports that Bloomberg intends to dole out from $10 to $15 million dollars this cycle. His move comes amidst a trend of idiosyncratic and wealthy individuals exercising huge influence on campaigns around the country.
And their influence is still on the upswing. From October 1st through 15th, Politico reports that outside groups, including Super PACs, spent $212.8 million in advertising. That’s huge. During the same period in August, outside groups only spent $60 million.