Support the Wall Street Examiner! Choose your level of support to receive a free proprietary report as my thanks. Click the button below to see your options. Become a Patron!

No Draining of Swamp Under Trump

This is a syndicated repost courtesy of Statista | Infographics. To view original, click here. Reposted with permission.

U.S. President Trump promised his voters in the election campaign before he took office that he would “drain the swamp” of outside influence in Washington. The Statista chart suggests that he did not succeed: both the number of registered lobbyists and their total annual expenditures increased during Trump’s term, reaching almost $4 billion in 2020. Under Democratic President Obama, lobby spending had previously fallen sharply, whereas it had risen under Republican George W. Bush.

According to Opensecrets.org, this is because Trump did not limit the lobbyists’ influence on his government, contrary to his promise. Trump even extended it. This is shown, among other things, by the fact that Trump would appoint former lobbyists as members of the government.

Lobby organizations usually try to exert influence on the legislative process on behalf of companies or associations in order to shape the legislation in the interests of their respective clients. Lobbying takes place at all levels, from local government to presidential elections. The sectors in which lobbying is used as a means of exerting influence are diverse. These include pharmaceutical companies, insurance companies, business associations and oil and gas companies. The U.S. Chamber of Commerce, a trade association, was by far the largest lobbying donor in the US in 2019.

Since 1995, lobbyists have had to register in the U.S. This law was introduced during the Clinton administration. The register helps to make lobbying activities more transparent. According to Lobbycontrol, however, there are still possibilities to circumvent these obligations.

This chart shows the number of lobbying organizations and lobbying expenditure in the U.S. since 1998.

lobby spending number of lobby organizations US

Wall Street Examiner Disclosure: Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. No endorsement of such content is either expressed or implied by posting the content. All items published here are matters of information and opinion, and are neither intended as, nor should you construe it as, individual investment advice. Do your own due diligence when considering the offerings of information providers, or considering any investment.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.