Obama: "This ruling strikes at our democracy itself"

Saturday, January 23, 2010

...this week the United States Supreme Court handed a huge victory to the special interests and their lobbyists, and a powerful blow to our efforts to rein in corporate influence. This ruling strikes at our democracy itself. By a 5-4 vote, the Court overturned more than a century of law, including a bipartisan campaign finance law written by Senator John McCain and Russ Feingold...This ruling opens the floodgates for an unlimited amount of special interest money into our democracy. It gives the special interest lobbyists new leverage to spend millions on advertising to persuade elected officials to vote their way – or to punish those who don’t...Even foreign corporations can now get into the act. I can't think of anything more devastating to the public interest. The last thing we need to do is hand more influence to the lobbyists in Washington, or more power to the special interests that tip the outcome of elections...We don’t need to give any more voice to the powerful interests that already drown out the voices of everyday Americans...

For the full transcript, click here.