Nation: Penny-Pinching Politics

Under the new rules, even the richest candidates go broke

"An abomination," says Richard Viguerie, a fund raiser for John Connally. "Absolutely counterproductive," echoes Larry Pryor, an aide to Jerry Brown. "An overreaction to the Nixon campaign," says Morris Dees, chief fund raiser for Ted Kennedy.

The target of this abuse is not a candidate or a presidential policy but a federal law that these aides agree has seriously impeded their fund raising and has hurt their candidates. All three campaigns, in fact, are close to going broke.

Kennedy's aides have just been put on half...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!