According to the New York Times, no less:
Ever since he raised the issue in his State of the Union speech nearly nine months ago — prompting head-shaking by Justice Samuel A. Alito Jr. of the Supreme Court — President Obama has been warning about the danger of foreign money creeping into elections as a result of the court’s landmark campaign finance ruling.
In two campaign stops Thursday, Mr. Obama invoked what he portrayed as a specific new example, citing a blog posting from a liberal advocacy group as he teed off on a longtime adversary, the U.S. Chamber of Commerce, over its political spending.
“Just this week, we learned that one of the largest groups paying for these ads regularly takes in money from foreign corporations,” Mr. Obama said. “So groups that receive foreign money are spending huge sums to influence American elections.”
But a closer examination shows that there is little evidence that what the chamber does in collecting overseas dues is improper or even unusual, according to both liberal and conservative election-law lawyers and campaign finance documents.
In fact, the controversy over the Chamber of Commerce financing may say more about the Washington spin cycle — where an Internet blog posting can be quickly picked up by like-minded groups and become political fodder for the president himself — than it does about the vagaries of campaign finance.
Organizations from both ends of the political spectrum, from liberal ones like the A.F.L.-C.I.O. and the Sierra Club to conservative groups like the National Rifle Association, have international affiliations and get money from foreign entities while at the same time pushing political causes in the United States.
In addition, more than 160 political action committees active in campaigning have been set up by corporations that are based overseas, including military contractors like B.A.E. Systems and pharmaceutical giants like GlaxoSmithKline, according to data from the Center for Responsive Politics, a nonpartisan research service.
Such groups, which collectively have spent hundreds of millions dollars on political causes to advance their agenda, are required by law to ensure that any foreign money they receive is isolated and not used to finance political activities, which would violate a longstanding federal ban. The Chamber of Commerce says it has a vigorous process for ensuring that does not happen, and no evidence has emerged to suggest that is untrue.
Read the whole thing here. You are having a really bad election cycle if you are a Democrat and the NYT isn’t buying your spin.
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