One of the big losers Tuesday night was the billionaire-financed political campaign.
Despite a culture spawned by the Citizens United decision, super PACs and tax laws that encourage unreported donations, a small group of ultra-wealthy people was unable to buy the White House.
The multimillion-dollar fortune shelled out by casino magnate Sheldon Adelson, the Koch brothers and other Republican one-percenters wasn’t enough to snare victory for their chosen candidate, just as it hadn’t been enough to land the GOP nomination for Newt Gingrich.
Super PACs and other outside groups spent more than $1 billion in this election.
But votes, many cast by women and minorities ignored or even scorned by those groups, still mattered more than dollars.
We’re not blinded by our morning-after bonhomie. Big money isn’t going away. We will probably never see another presidential campaign that costs less than $1 billion.
But seven-figure contributions given by an elite and managed by Karl Rove and company did not bring success, even when masked as “grassroots” efforts such as the Koch-funded Americans for Prosperity.
That message is just as important as the Democratic victory.