Tom Coburn: The Gang of Six’s Abysmal Failure Is Not The Gang of Six’s Fault

Posted on by Caleb Newquist

I understand the disappointment, and real danger, associated with our impasse. The question, though, is not how we tried and failed but why the Senate has not even tried. Commissions and “gangs” form when members lose confidence in the institutions in which they serve. Working groups have their place — but they should support, not replace, the open work of the full Senate. The truth is that we already have a permanent standing debt commission. It’s called Congress. [WaPo]

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Romney Trumps Obama in Accounting Firm Donations to Presidential Candidates

You may have heard that there’s a bit of a campaign going on for the world’s worst job. For whatever reason, the process of electing the leader of our country’s government drags on like Titantic. Right around, erm, now you’re probably ready to gouge your eyes out with a rusty spoon every time you see an ad for a candidate or debate. Unfortunately we’re powerless to stop it, thanks tycle.

ANYWAY, one of the more useful things we learn during this process is where the money comes from and who it goes to. Now, you may be screaming, “Koch Brothers!” or “George Soros!” and while they can afford to throw around some cash, these stories are old hat and are best left to political bomb throwers with jostling jowls.

For our purposes of informing you, dear GC readers, we’ll give you the lowdown on what kind of cash people from the largest accounting firms are throwing around and who they’re throwing it to. Accounting Today has a full report out today based on data available from the Federal Election Commission and here are the highlights:


• Ernst & Young – E&Y donated the most cash, with personnel contributing more than $89,000. 18% went to President Obama, Mitt Romney received 39% and Rick Perry 37%. Personally, I feel like this money would be better spent throwing it at people in Albany.

• Deloitte – Total of $57,490 in donations. Mittens received 41%; Obama 37%.

• PwC – $36,520 total donations. Romney received 51%; Obama 48%.

• KPMG – The one Obama stronghold. The President received 47% of the total $15,000 in donations. Romney received 32%; Perry 17%.

• Grant Thornton – Obama doesn’t win. GT peeps gave $23,050 and 97% went to Mitt Romney.

What about the other candidates? Well, Newt Gingrich received a grand total of zero dollars from anyone at these accounting firms. Ron Paul received less money than Jon Huntsman. Yes, I know you’ve never heard of him. It’s this guy. Google Rick Santorum just for fun. And check out Michelle Bachmann’s manicures. That’s about all you need to know.

So who gets your imaginary contributions? I imagine most of you out there in Internetland have no plans to fork over any of your meager bonuses to a Presidential candidate but IF YOU DID, who would it be? And feel free to discuss your firm’s generosity or political leanings as you see fit.

Accountants and Firms Fund Presidential Candidates [AT]