Final answer:
Campaign spending in the 2020 U.S. elections reached $14.4 billion, which is a small fraction of the overall economy but raises concerns about the influence of money in politics. Conflict theorists suggest that such a system favors the wealthy, potentially drowning out the voices of the less affluent. There is ongoing debate about the impact of this spending and the involvement of SuperPACs in the political process.
Step-by-step explanation:
The discussion of campaign spending in the United States touches on whether the vast sums of money used are excessive, especially when considering the larger economy. In the 2020 elections, campaign spending reached approximately $14.4 billion, more than twice the amount spent in 2016. This figure represents a mere fraction of the overall U.S. economy, which was nearly $21 trillion in 2020, equating to about 1/15th of 1% of the economy. When compared to consumer spending on everyday products or a single company's advertising budget, this amount for political campaigns might not seem as large. Despite this, concerns remain regarding the influence of wealthy donors and SuperPACs, and whether such spending could stifle the voices of the less affluent in the political arena.
Conflict perspective theorists may suggest that the current campaign finance system, bolstered by the Citizens United vs. Federal Election Committee decision, disproportionately amplifies the voices and interests of wealthy entities, making it challenging for non-rich individuals and groups to have an equitable say in politics. Furthermore, the expectation for congressional representatives to allocate substantial time for fundraising as opposed to legislative work persists, indicating the strong tie between money and politics in the U.S. system.