Has politics become a rich man's club?

After the 2016 election, I wondered if only the filthy rich would be able to run for president. Hillary Clinton, with a net worth of around $35 million, was the Democratic favorite, and her only challenger was Bernie Sanders.

Not being independently wealthy, Bernie had no choice but to fund his campaign with contributions. Hillary expected the contest to be a grand coronation, and was surprised Bernie put up as much resistance as he did.

On the Republican side, Trump with probably a little less than the $12 billion he claimed to have, was still able to use his own money to run rough shod over the competition. He spent about $60 million to secure the 2016 nomination. As the sitting president, he has no real Republican challenger for 2020.

The Democrats started with a large field, but it soon narrowed and appears to be dwindling even more. Kamala Harris is the latest casualty. She simply can’t raise enough money to continue and admits she is not a billionaire. I like her better than some of the others, but not enough to make a serious contribution to her campaign.

At last count only five, including Harris, qualified for the last debate and one of them just barely made the cut. That leaves only Warren, Bernie, Biden and Buttigieg with a realistic chance.

Then out of nowhere in rides Michael Bloomburg to save the day. Although he is a latecomer, he has a big advantage over the rest of the field. He can fund his own campaign. He has indicated a willingness to commit up to $1 billion of his personal fortune to combat the evils of Donald Trump.

Bloomberg has a huge financial advantage over the rest of the field. Elizabeth Warren is the most affluent of the other hopefuls. According to Google, she has over $12 million put away for her retirement years. Not bad for a college professor.

Bernie Sanders has accumulated over $2 million as a career politician while Joe Biden only has $1.5 million. Buttigieg has no real money of his own, so he is soliciting billionaires to support him through political action committees. Unless he shows a quick rise in the polls, that source of funds will quickly dry up.

It is estimated those who stay in the primary race until the end will spend between $100-$175 million. When the rest of the field is actively hustling campaign contributions, Bloomberg, with his $58 billion, will be campaigning without financial constraints.

I’m not sure why anyone would want to be president, but there seems to be no shortage of hopefuls. In 2016, we exited the primaries with two equally unacceptable candidates. The only real qualification for one was big time name recognition and the other had no prerequisites except the ability to outspend his rivals. If Michael Bloomberg is successful in obtaining the Democratic nomination, we will be one step closer to turning the presidency into a billionaire’s club.

Bloomberg has minimal political experience. He was the Republican mayor of New York after 9-11 and only recently became a Democrat. Plus, his age works against him. Five years from now at the end of our next president’s term, he will be 82 years old. But he has lots of money.

The presidency of the United States is the most critical position in the world. Yet our system excludes most capable applicants. I am a firm believer in democracy. It is the best system of government ever created. In our system, however, candidates are chosen by one of two political parties and party candidacy can be bought by the very rich.

If the trend continues, our democracy will become a plutocracy. We must find a way within our system for the best qualified and most capable to succeed to our highest office.

Frank Watson is a retired Air Force Colonel and long-time resident of Eastern Washington. He has been a free-lance columnist for over 19 years.