Since the landmark Citizens United decision issued by the Supreme Court in 2010, liberals have been claiming that the ruling would more or less end democracy as we know it. Their fear-mongering on the issue was based on the assumption that freeing up the ability of individuals, groups and businesses to fund political speech would guarantee that money would decide all future elections. That conclusion was patent nonsense. Neither political party has an inherent advantage in raising money, since both have large affluent bases from which to draw funds. But even more important is the fact that while money is essential to giving a candidate a chance, it is by no means a decisive factor in determining the outcome.
These two facts were proved true again this past Tuesday. It is true that Mitt Romney’s defeat was a blow to the big Republican donors who contributed vast sums to help his cause. But as much as the New York Times was able to crow in an editorial published yesterday that the outcome was “A Landslide Loss for Big Money” by which they meant big Republican money, it can just as easily be represented as a win for the big liberal money raised by the Democrats. While the cacophony of competing claims made possible by the approximately $1 billion spent by both parties wasn’t the most edifying spectacle, it did give each ample opportunity to make their cases to the voters. There is nothing corrupt about the free flow of political speech, even in an election as nasty as the one that has just concluded. All that Citizens United did was to make it possible for the competitors’ voices to be heard. That is the essence of democracy and why calls for more efforts to restrict free speech via new, and undoubtedly unconstitutional, campaign finance laws (such as those advocated by the Times) should be ignored.