advertising, fundraising, travel, and staff. Many people worry that politicians spend too much time raising money

and end up entangled with special interest groups that make major donations. Critics would prefer a system that

restricts what candidates can spend, perhaps in exchange for limited public campaign financing or free television

advertising time.

How much spending on campaigns is too much? Five billion dollars will buy many potato chips, but in the U.S.

economy, which was nearly $21 trillion in 2020, the $14.4 billion spent on political campaigns was about 1/15th of

1% of the overall economy. Here is another way to think about campaign spending. Totalgovernment spending

programs in 2020, including federal and state governments, was about $8.8 trillion, so the cost of choosing the

people who would determine how to spend this money was less than 2/10 of 1% of that. In the context of the
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