* JANUARY 23, 2010, 6:00 A.M. ET
Obama Assails Supreme Court Ruling On Political Advertising
WASHINGTON (Dow Jones)--U.S. President Barack Obama used his weekly radio address on Saturday to assail a Supreme Court ruling this week clearing the way for corporations to spend freely on political advertisements, calling it a big victory for special interests and "devastating to the public interest." He added that his administration is working with Congress to develop a bipartisan legislative solution to override the ruling.
"The last thing we need to do is hand more influence to the lobbyists in Washington, or more power to the special interests to tip the outcome of elections," Obama said in his address.
The Supreme Court ruling, narrowly decided on a 5-4 vote, overturned restrictions on campaign financing contained in a law written by Sens. John McCain (R., Ariz.) and Russ Feingold (D., Wisc.), finding them to be an unconstitutional limit on free speech. Obama expressed concern that the decision "opens the floodgates for an unlimited amount of special interest money in our democracy," including by foreign corporations with an interest in the outcome of U.S. elections.
"This ruling strikes at our democracy itself," said Obama.
Obama objected to giving more voice to powerful interests, predicting that would make it much harder for Congress to enact health care reform, financial reforms, and measures to reduce U.S. dependence on foreign oil. He said his administration is working on a response with members of Congress from both political parties and that "it will be a priority for us until we repair the damage that has been done."
Concerns about corporate influence on politics aren't new, as President Teddy Roosevelt, a Republican, fought to limit special-interest spending and influence over American political campaigns early in the 20th century, Obama recalled. He said Roosevelt's message still rings true in an era of mass communication, and vowed that "as long as I'm your President, I'll never stop fighting to make sure that the most powerful voice in Washington belongs to you."
The president contrasted the Supreme Court's stance with that taken by his administration, saying that his White House has "closed the revolving door" between government and special-interest lobbying and has barred gifts from federal lobbyists to executive branch officials. And, for the first time, Obama said his administration is publicly disclosing the names of those who visit the White House each day, a list that includes lobbyists.
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