Obama on Supreme Court decision: A win for ‘big oil,’ special interests

President Barack Obama. Photo: WDCpix

President Barack Obama has responded to the U.S. Supreme Court’s decision to overturn the ban on direct contributions by corporations to political campaigns, calling it a “green light to a new stampede of special interest money in our politics.” In a short statement, he said he’ll work with Congress to address the problem.

Today’s ruling — “probably the most sweeping and consequential handed down under Chief Justice John G. Roberts Jr.,” according to the Los Angeles Times — was based on the rationale of conservative justices that corporations have the same First Amendment rights as individuals and, therefore, shouldn’t be prevented from spending to try to influence elections.

Obama’s statement:

With its ruling today, the Supreme Court has given a green light to a new stampede of special interest money in our politics. It is a major victory for big oil, Wall Street banks, health insurance companies and the other powerful interests that marshal their power every day in Washington to drown out the voices of everyday Americans. This ruling gives the special interests and their lobbyists even more power in Washington–while undermining the influence of average Americans who make small contributions to support their preferred candidates. That’s why I am instructing my Administration to get to work immediately with Congress on this issue. We are going to talk with bipartisan Congressional leaders to develop a forceful response to this decision. The public interest requires nothing less.