Is Money the Last Word in Presidential Politics?

The year 2008 could see the first billion-dollar presidential campaign in history. So far, Democrats have topped Republicans, but each party is likely to raise and spend $500 million before it's all over. Barack Obama stunned political pros by virtually matching Hillary Clinton's first-quarter fundraising with $25 million to her $26. John Edwards is next with $15, and Bill Richardson has $6 million--which would have put him in the top tier four years ago. On the Republican side, Mitt Romney--little known to most voters--came in with $21 million, topping Rudi Giuliani's $15. With $12 million, John McCain is said to be revamping his fund raising operation. We get an update from Ron Brownstein, national affairs columnist of the Los Angeles Times.