Campaign finance reform: Supreme Court 1, Obama 0

How regulated did political speech become during the decades when the court was derelict in its duty to actively defend the Constitution? The Federal Election Commission, which administers the law that rations the quantity and regulates the content and timing of political speech, identifies 33 types of political speech and 71 kinds of “speakers.” The underlying statute and FEC regulations cover more than 800 pages, and FEC explanations of its decisions have filled more than 1,200 pages. The First Amendment requires 10 words for a sufficient stipulation: “Congress shall make no law . . . abridging the freedom of speech.”…

Barack “Pitchfork” Obama, in his post-Massachusetts populist mode, called the court’s ruling a victory for, among others, “big oil” and “Wall Street banks.” But OpenSecrets.org reports that in 2008 lawyers gave more money than either of them, and gave 78 percent of the donations to Democrats, who also received 64 percent of contributions from the financial sector.

Even if it were Congress’s business to decide that there is “too much” money in politics, that decision would be odd: In the 2007-08 election cycle, spending in all campaigns, for city council members up to the presidency, was $8.6 billion, about what Americans spend annually on potato chips.