The following press release arrived via email:

CONCORD, NH – Americans for Campaign Reform (ACR) today released a new report, “America’s Fiscal Crisis: Follow the Money“, that analyzes the political influence surrounding $200 billion in annual deficit reductions proposed by respected organizations across the political spectrum. The report illustrates the process by which special interest groups exercise influence in policy-making through targeted campaign contributions to incumbent politicians. According to the report, the estimated rate of return on political contributions by those groups since 1990 exceeded 100-1.

“To stop wasteful spending, we have to take a hard look not just at money going out of Washington but campaign contributions coming in,” said Daniel Weeks, President of ACR and lead author of the report, “So long as politicians rely on millions of dollars to run for reelection from the same special interests that seek tax breaks and subsidies from the committees on which they serve, real deficit reduction will remain out of reach.”

The report spans five sectors of the economy – agriculture, energy, defense, labor, and healthcare. The report analyzes the impact of contributions in support of these spending programs by affected industry groups. Opinion polls also show widespread public opposition to these programs, the report shows. The report concludes by recommending a pair of campaign finance reforms aimed at curtailing the ability of wealthy special interests to gain government influence in the budget- and policy-making process.

“Righting our nation’s fiscal ship of state will require shared sacrifice and good-faith compromises on all sides–but good intentions alone will not suffice,” Weeks said. “Democrats and Republicans in Congress must free themselves from the corrosive influence of private money funding their campaigns, and the constant fundraising our current system demands, if they are to make the difficult decisions our current fiscal crisis demands.”

For a full copy (PDF) of the report, please click here.

ACR is a national, bipartisan organization chaired by former U.S. Senators Bill Bradley (D-NJ), Bob Kerrey (D-NE), Warren Rudman (R-NH), and Alan Simpson (R-WY) based in Concord, New Hampshire. For more information, please visit www.ACRreform.org.