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Note: Public Citizen played a key role in the Citizens United
case; Public Citizen attorney Scott Nelson was a member of the legal
team that represented the key congressional sponsors of the
McCain-Feingold law.
Shed a tear for our democracy.
Today, in the case Citizens United v. FEC, the U.S. Supreme Court
has ruled that corporations have a First Amendment right to spend
unlimited amounts of money to influence election outcomes.
Money from Exxon, Goldman Sachs, Pfizer and the rest of the Fortune
500 is already corroding the policy making process in Washington, state
capitals and city halls. Today, the Supreme Court tells these corporate
giants that they have a constitutional right to trample our democracy.
In eviscerating longstanding rules prohibiting corporations from
using their own monies to influence elections, the court invites giant
corporations to open up their treasuries to buy election outcomes.
Corporations are sure to accept the invitation.
The predictable result will be corporate money flooding the
election process; huge targeted campaigns by corporations and their
front groups attacking principled candidates who challenge parochial
corporate interests; and a chilling effect on candidates and election
officials, who will be deterred from advocating and implementing
policies that advance the public interest but injure deep-pocket
corporations.
Because today's decision is made on First Amendment constitutional
grounds, the impact will be felt not only at the federal level, but in
the states and localities, including in state judicial elections.
In one sense, today's decision was a long time in coming. Over the
past 30 years, the Supreme Court has created and steadily expanded the
First Amendment protections that it has afforded for-profit
corporations.
But in another sense, the decision is a startling break from
Supreme Court tradition. Even as it has mistakenly equated money with
speech in the political context, the court has long upheld regulations
on corporate spending in the electoral context. The Citizens United
decision is also an astonishing overreach by the court. No one thought
the issue of corporations' purported right to spend money to influence
election outcomes was at stake in this case until the Supreme Court so
decreed. The case had been argued in lower courts, and was originally
argued before the Supreme Court, on narrow grounds related to
application of the McCain-Feingold campaign finance law.
The court has invented the idea that corporations have First
Amendment rights to influence election outcomes out of whole cloth.
There is surely no originalist interpretation to support this outcome,
since the court created the rights only in recent decades. Nor can the
outcome be justified in light of the underlying purpose and spirit of
the First Amendment. Corporations are state-created entities, not real
people. They do not have expressive interests like humans; and, unlike
humans, they are uniquely motivated by a singular focus on their
economic bottom line. Corporate spending on elections defeats rather
than advances the democratic thrust of the First Amendment.
We, the People cannot allow this decision to go unchallenged. We,
the People cannot allow corporations to take control of our democracy.
Public Citizen is going to do everything we can to mitigate the
damage from today's decision, and to overturn this misguided ruling.
First, we must have public financing of elections. Public financing
will give independent candidates a base from which they may be able to
compete against candidates benefiting from corporate expenditures. We
will intensify our efforts to win rapid passage of the Fair Elections
Now Act, which would provide congressional candidates with an
alternative to corporate-funded campaigns before fundraising for the
2010 election is in full swing. Sponsored by Sen. Richard Durbin
(D.-Ill.) and Rep. John Larson (D.-Conn.), the bill would encourage
unlimited small-dollar donations from individuals and provide
candidates with public funding in exchange for refusing corporate
contributions or private contributions in amounts of more than $100.
The proposal has broad support, including more than 110 co-sponsors in
the House.
In the wake of the court's decision, it is also essential that the
presidential public financing system be made viable again. Cities and
states will also need to enact public financing of elections.
Second, we will urge Congress to ensure that corporate CEOs do not
use corporate funds for political purposes, against the wishes of
shareholders. We will support legislation requiring an absolute
majority of shares to be voted in favor, before any corporate political
expenditure is permitted.
These mitigating measures will not be enough to offset today's decision, however. The decision itself must be overturned.
Public Citizen will aggressively work in support of a constitutional
amendment specifying that for-profit corporations are not entitled to
First Amendment protections, except for freedom of the press. We do not
lightly call for a constitutional amendment. But today's decision so
imperils our democratic well-being, and so severely distorts the
rightful purpose of the First Amendment, that a constitutional
corrective is demanded.
We are formulating language for possible amendments, asking members
of the public to sign a petition to affirm their support for the idea
of constitutional change, and planning to convene leading thinkers in
the areas of constitutional law and corporate accountability to begin a
series of in-depth conversations about winning a constitutional
amendment.
The Supreme Court has lost its way today. Democracy is rule of the
people - real, live humans, not artificial entity corporations. Now
it's time for the people to reassert their rights.
Public Citizen is a nonprofit consumer advocacy organization that champions the public interest in the halls of power. We defend democracy, resist corporate power and work to ensure that government works for the people - not for big corporations. Founded in 1971, we now have 500,000 members and supporters throughout the country.
(202) 588-1000Data released by the University of Michigan and Gallup this week showed US consumer sentiment cratering even as stock markets hit record highs.
Multiple polls and surveys released in recent days have shown US consumer sentiment cratering—and all the while, the US stock market keeps hitting record highs.
The Kobeissi Letter, a financial newsletter, posted a graphic Saturday that matched consumer sentiment as measured by the University of Michigan's Surveys of Consumers with the performance of the S&P 500 stock index over a 30-year span.
The graphic shows that, up until around 2020, consumer sentiment matched stock market performance closely, although there was a large divergence between the two leading up to the 2008 financial crisis, where stocks briefly outperformed consumer sentiment before crashing downward as the housing bubble burst.
But throughout the last six years, the graphic shows, the S&P 500 has produced an almost continuous upward surge even as consumer sentiment spirals downward.
Absolutely incredible:
Over the last 6 years, the S&P 500 has risen +130% while US Consumer Sentiment has collapsed by -55%, to its lowest since data began in 1952.
We are witnessing the formation of the biggest wealth divide in modern history. https://t.co/XGMR6DfuNc pic.twitter.com/2w7cRvn7ok
— The Kobeissi Letter (@KobeissiLetter) May 23, 2026
"Absolutely incredible," commented Kobeissi Letter. "Over the last six years, the S&P 500 has risen +130% while US Consumer Sentiment has collapsed by -55%, to its lowest since data began in 1952. We are witnessing the formation of the biggest wealth divide in modern history."
Kobeissi Letter produced the graphic one day after the University of Michigan's latest survey found consumer sentiment hitting the lowest level on record.
Joanne Hsu, director of the survey, observed that "the cost of living continues to be a first-order concern, with 57% of consumers spontaneously mentioning that high prices were eroding their personal finances, up from 50% last month."
On the same day, Gallup published new data showing that Americans' economic confidence has fallen to its lowest level since October 2022, with just 16% of Americans rating the economy as excellent or good, and nearly half describing it as poor.
Axios reported on Saturday that even Republicans have been growing sour on the US economy, citing a recent poll from The Associated Press showing GOP approval of President Donald Trump on the economy to be at around 60%, down from 80% just three months ago.
"The growing GOP gloom could hardly come at a worse time for Trump and the party," Axios noted, "less than six months out from a midterm election that's likely to turn on the economy."
The gap between overall consumer sentiment and stock market performance also lines up with recent consumer spending trends. Data published by The Financial Times earlier this year showed that the top 10% of earners in the US now account for nearly half of all consumer spending, while the bottom 80% of earners now account for less than 40% of all consumer spending.
A February report from TD Economics economist Ksenia Bushmeneva noted that “the economic divide between America’s households at the top of the income spectrum and everyone else continued to widen last year,” as “upper-income households benefited from the still-robust wage growth, strong gains in equity markets, and better access to consumer credit.”
"Private equity is destroying our favorite baseball team, stripping them for parts," Democratic US Senate candidate Platner said in an ad that aired on the New England Sports Network.
Maine Democratic US Senate candidate Graham Platner on Saturday said that a campaign ad that aired during a Boston Red Sox game was "taken down" after it took aim at the team's ownership.
The ad in question features Platner discussing the role that private equity firms play in the US economy, including sports teams.
"Private equity is destroying our favorite baseball team, stripping them for parts," Platner says at the start of the ad. "Private equity is buying up our homes, our sports, and our lives. I will reverse the private equity curse."
Private equity is taking our homes. It's taking our hospitals. It's taking beloved local businesses and stripping them for parts.
And now private equity is running the Red Sox into the ground.
Our new ad ⬇️ pic.twitter.com/w7LapElpdA
— Graham Platner for Senate (@grahamformaine) May 22, 2026
Platner concludes the ad by saying that he approves this message "because I miss Mookie Betts," the star player whom the Red Sox traded to the Los Angeles Dodgers in 2020 in a deal that was widely decried by local fans as a salary dump.
According to Platner, his campaign began airing the ad Friday on the New England Sports Network (NESN), the cable TV station owned partially by Fenway Sports Group, the conglomerate that owns the Red Sox.
However, he said that "midway through the game the ad was taken down" by NESN, after which the Red Sox proceeded to blow a 4-0 lead, losing to the Minnesota Twins by a final score of 8-6.
Platner, an oyster farmer and upstart candidate who has never before held political office, became the Democratic Party's presumptive nominee for the 2026 US Senate race in Maine last month after his top rival, Democratic Maine Gov. Janet Mills, dropped out of the race.
In recent weeks, Platner has pivoted to challenging incumbent Sen. Susan Collins (R-Maine), who has held the seat since 1996 and is now running for her sixth term in office.
The policy change means "we could have families separated for months or years," said one expert.
Critics are slamming the Trump administration for implementing a new rule that foreigners who apply for green cards must do so from abroad.
US Citizenship and Immigration Services (USCIS) on Friday announced that foreigners currently in the US who want to establish permanent legal residency must first return to their countries of origin to apply for a green card.
This announcement broke with decades of US immigration policy, which made it possible for immigrants in the US to obtain green cards without having to leave the country.
Doug Rand, a former senior advisor at USCIS under President Joe Biden, said in an interview with The Associated Press that "the goal of this policy is very explicit," which is to block a path to citizenship "for as many people as possible."
Sarah Pierce, a former USCIS policy analyst, told The New York Times that the rule change could have particularly dire consequences to foreigners who are married to US citizens and will now have to apply for permanent residency from overseas.
"Our consular processing system through which they would have to apply is already overburdened," Pierce explained. "So that means we could have families separated for months or years."
Aaron Reichlin-Melnick, senior fellow at the American Immigration Council, similarly noted that the new policy "could force people to leave their jobs, homes, and families for weeks or months, all at their own expense" just to stay in a country where they have already established roots.
Reichlin-Melnick said that the full scope of the policy isn't yet clear because there are several unknown details about how broadly it will be applied, but added that "in the meantime, hundreds of thousands of immigrants now have to worry about upending their lives to get a legal status that they are entitled to under our laws."
Drop Site News reporter Ryan Grim argued that the new policy rips the mask off Trump administration claims that they aren't opposed to all immigration, they simply want to reduce undocumented immigration.
"The talking point that we do want legal immigration, we just want people to get in line and follow the rules, is BS," Grim commented. "This is an attempt to blow up the line, blow up the rules, and make it insanely difficult to immigrate legally."
Rep. Chuy García (D-Ill.) echoed Grim's comments by pointing out that the new policy shows the Trump administration's disdain for immigration overall.
"This new policy will force thousands of LEGAL immigrants, including spouses of US citizens, to leave their homes, families, and jobs for weeks or even months to get their green card outside the US," said García. "This is an absurd and cruel policy."
Rep. Adriano Espaillat (D-NY), chairman of the Congressional Hispanic Caucus, condemned the new policy for targeting "students, scientists, entrepreneurs, spouses of US citizens, and other individuals following legal immigration processes."
"Aspiring lawful permanent residents are valued members of our communities, workforce, and economy," Espaillat emphasized. "I will continue fighting to protect the rights of aspiring green card holders and immigrant families."