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GOP Billionaire Promises Unlimited Funds To Beat Obama

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Legislative Session Coverage

LAS VEGAS, Nev. (CBSMiami) – When the U.S. Supreme Court allowed unlimited fundraising through Super PAC’s, campaign finance champions worried it would allow candidates to be bought by a small, but powerful American plutocracy.

Multi-billionaire Republican Sheldon Adelson may try to pull of something just short of buying an election. Adelson, who owns casinos around the world, donated $10 million to the Super PAC supporting Republican nominee Mitt Romney.

Forbes also said that sources close to Adelson indicated that Adelson has given the word that further donations would be “limitless.” Adelson has said he will do “whatever it takes” to beat President Barack Obama.

Adelson rocketed to political fame by bankrolling Republican Newt Gingrich’s campaign for the White House. At the time, Adelson pledged upwards of $100 million to Gingrich, according to Forbes.

Democrats, including President Obama, have struggled to duplicate the Super PAC juggernauts Republicans have created. Additionally, Obama was recently outraised by Romney in recent campaign finance releases.

During the last election cycle, Obama far exceeded his Republican challengers in fundraising from limited donations from citizens. But, as the 2012 election cycle continues, Obama and Democrats will face a much tougher road of fundraising if they want to win the White House again.

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