The Biggest Political Spenders and Donators in America, By Generation
Connect with us

Datastream

The Biggest Political Spenders and Donators in America, By Generation

Published

on

Political Donations by Generation

Can I share this graphic?
Yes. Visualizations are free to share and post in their original form across the web—even for publishers. Please link back to this page and attribute Visual Capitalist.
When do I need a license?
Licenses are required for some commercial uses, translations, or layout modifications. You can even whitelabel our visualizations. Explore your options.
Interested in this piece?
Click here to license this visualization.

The Briefing

  • When it comes to the biggest political spenders in the U.S., Baby Boomers rank #1
  • The Silent Generation is a close 2nd, followed by Gen X and Millennials respectively
  • Overall political spending in the U.S. has reached all-time highs, but small donor spending (people who give $200 or less) still accounts for a fraction of overall donations

Political Spending in America, By Generation

In politics, the candidate who spends the most money usually wins. Because of this, donations are an important part of political campaigns, and the people behind those donations wield an intangible level of power and influence.

As our team put together the inaugural Generational Power Index (GPI), which looks at power dynamics across generations in the U.S., we started wondering which generation spent the most on political campaigns and lobbying.

Here’s what we found out.

Old Money

Of top spenders in the U.S., the Silent Generation (age 76+) and Baby Boomers (age 57-75) both sit at the top of the ranking.

In 2020, 55% of the biggest campaign donations in the U.S. came from the Silent Generation, and meanwhile, more than 60% of the biggest lobbying expenditures came from organizations run by Baby Boomers.

GenerationShare of U.S. Spend on Electoral CampaignsShare of U.S. Spend on LobbyingOverall U.S. Spend
Gen Z0%0%0%
Millennials5%5%5%
Gen X10%35%18%
Baby Boomers30%60%39%
Silent Generation55%0%38%
Total100%100%100%

*Note: Percentages are based on the top 20 spenders in each category, not overall spending.

Outliers

Of course, there were a few exceptions.

Facebook, run by Millennial Mark Zuckerburg, spent over $19 million on lobbying in 2020. The social media giant spent more than any other Big Tech monolith, with lobbying efforts focused on competition and consumer privacy issues.

When it comes to electoral spending, Millennial Dustin Moskovitz is the youngest person on the list, contributing over $50 million to the Democrats in 2020. Interestingly, he co-founded Facebook back in 2004, but he left in 2008 to start the project management platform, Asana.

Where does this data come from?

Source: Visual Capitalist’s 2021 Generational Power Index (GPI)
Notes: Check out the full report for more information around methodology

Click for Comments

Datastream

U.S. Inflation: Which Categories Have Been Hit the Hardest?

The U.S. inflation rate has seen its fastest annual increase in over 30 years. Which consumer spending categories have been hit the hardest?

Published

on

The Briefing

  • The inflation rate in the U.S. has seen its fastest annual increase in over 30 years
  • Fuel, transportation, and meat products are seeing some of the steepest increases

Prices have been going up in a number of segments of the economy in recent months, and the public is taking notice. One indicator of this is that search interest for the term “inflation” is higher than at any point in the past decade.

inflation search interest

Recent data from the Bureau of Labor Statistics highlights rising costs across the board, and shows that specific sectors are experiencing rapid price increases this year.

Where is Inflation Hitting the Hardest?

Since 1996, the Federal Reserve has oriented its monetary policy around maintaining 2% inflation annually. For the most part, U.S. inflation over the past couple of decades has typically hovered within a percentage point or two of that target.

Right now, most price categories are exceeding that, some quite dramatically. Here’s how various categories of consumer spending have fared over the past 12 months:

CPI CategoryOne-Year Change
Energy commodities49.5%
Used cars and trucks26.4%
Energy services11.2%
New vehicles9.8%
Tobacco and smoking products8.5%
Food at home5.4%
Food away from home5.3%
Transportation services4.5%
Apparel4.3%
Shelter3.5%
Alcoholic beverages2.2%
Medical care services1.7%
Medical care commodities-0.4%

Of these top-level categories, fuel and transportation have clearly been the hardest hit.

Drilling further into the data reveals more nuanced stories as well. Below, we zoom in on five areas of consumer spending that are particularly hard-hit, how much prices have increased over the past year, and why prices are rising so fast:

1. Gasoline (+50%)

Consumers are reeling as prices at the gas pump are up more than a dollar per gallon over the previous year.

Simply put, rising demand and constrained global supply are resulting in higher prices. Even as prices have risen, U.S. oil production has seen a slow rebound from the pandemic, as American oil companies are wary of oversupplying the market.

Meanwhile, President Biden has identified inflation as a “top priority”, but there are limited tools at the government’s disposal to curb rising prices. For now, Biden has urged the Federal Trade Commission to examine what role energy companies are playing in rising gas prices.

2. Natural Gas (+28%)

Natural gas prices have risen for similar reasons as gasoline. Supply is slow to come back online, and oil and natural gas production in the Gulf of Mexico was adversely affected by Hurricane Ida in September.

Compared to the previous winter, households could see their heating bills jump as much as 54%. An estimated 60% of U.S. households heat their homes with fossil fuels, so rising prices will almost certainly have an effect on consumer spending during the holiday season.

3. Used Vehicles (+26%)

The global semiconductor crunch is causing chaos in a number of industries, but the automotive industry is uniquely impacted. Modern vehicles can contain well over a thousand chips, so constrained supply has hobbled production of nearly a million vehicles in the U.S. alone. This chip shortage is having a knock-on effect on the used vehicle market, which jumped by 26% in a single year. The rental car sector is also up by nearly 40% over the same period.

4. Meats (+15%)

Meat producers are facing a few headwinds, and the result is higher prices at the cash register for consumers. Transportation and fuel costs are factoring into rising prices. Constrained labor availability is also an issue for the industry, which was exacerbated by COVID-19 measures. As a top-level category, inflation is high, but in specific animal product categories, such as uncooked beef and bacon, inflation rates have reached double digits over the past 12 months.

5. Furniture and Bedding (+12%)

This category is being influenced by a few factors. The spike in lumber prices along with other raw materials earlier in the year has had obvious impacts. Materials aside, actually shipping these cumbersome goods has been a challenge due to global supply chain issues such a port back-ups.

How Inflation Could Influence Consumer Spending

Rising prices inevitably impact the economy as consumers adjust their buying habits.

According to a recent survey, 88% of Americans say they are concerned about U.S. inflation. Here are the top five areas where consumers plan to cut back on their spending:

Money saving action% of respondents
Cut back on restaurant / take-out meals48%
Keep my current technology (e.g. phone, tablet) instead of upgrading30%
Budget food and cut back on grocery buying29%
Purchase less clothing / accessories29%
Put off home repairs, renovations, or home upgrades23%

Will Inflation Continue to Rise in 2022?

Many experts believe that U.S. inflation will decelerate going into 2022, though there’s no consensus on the matter.

Improved semiconductor supply and an easing of port congestion around the world could help slow inflation down if nothing goes seriously wrong. That said, if the last few years are any indication, unexpected events could shift the situation at any time.

For the near term, consumers will need to adjust to the sticker shock.

Where does this data come from?

Source: U.S. Bureau of Labor Statistics – Consumer Price Index (November 10, 2021)
Data Note: The Consumer Price Index (CPI) measures the change in prices paid by consumers for goods and services. The CPI reflects spending patterns for each of two population groups: all urban consumers and
urban wage earners and clerical workers, which represent about 93% of the total U.S. population. CPIs are based on prices of food, clothing, shelter, fuels, transportation, doctors’ and dentists’ services, drugs, and other goods and services that people buy for day-to-day living.

Continue Reading

Datastream

Visualizing Congestion at America’s Busiest Port

The Port of Los Angeles is the busiest port in America. It’s also at the center of a massive container backlog.

Published

on

The Briefing

  • There are an estimated 540,000 shipping containers waiting in queue at the Port of Los Angeles
  • The port has been unable to keep up with increased shipments from overseas suppliers

The Busiest Port in America: Los Angeles

U.S. e-commerce grew by 32.4% in 2020—the highest annual growth rate in over two decades. Such rapid growth has resulted in many more goods being imported, leaving America’s western ports completely overwhelmed.

To help you understand the scale of this issue, we’ve visualized the number of containers waiting at sea in relation to the Port of Los Angeles’ daily processing capacity.

Stuck at Sea

As of November 2, 2021, the Port of Los Angeles reported that it had 93 vessels waiting in queue. Altogether, these ships have a maximum carrying capacity of roughly 540,000 containers (commonly measured in twenty-foot equivalent units or TEUs).

On the other side of the equation, the port processed 468,059 import containers in September (the most recent data at the time of writing). Because the port does not operate on Sundays, we can conclude that the port can load roughly 18,000 containers each day.

That capacity seems unlikely to reduce the congestion. Over a two-week timeframe in September, 407,695 containers arrived at the Port of Los Angeles, which averages to around 29,000 containers arriving each day.

FigureApproximate Number of Containers
Current backlog540,000
Daily import arrivals29,000
Daily import capacity18,000
Daily increase in backlog11,000

What’s Being Done?

Solutions are needed to prevent the backlog from causing massive economic harm. In fact, analysts believe that up to $90 billion in trade could be delayed this holiday season.

In October, the Biden administration announced a deal to expand operations at the Port of Los Angeles, enabling it to run 24/7. The port also announced it will begin charging carriers for every container that sits idle over a grace period. While only temporary, this plan has drawn criticism for its unclear objective.

“The fee is on the ocean carrier, but the control over when the cargo is to be picked up sits with the cargo recipient. Having the ocean carrier pay more does nothing to encourage the cargo interest to pick up the cargo.” – World Shipping Council

Regardless of the outcome, more permanent solutions will be required as online shopping continues to gain popularity.

Where does this data come from?

Source: Marine Exchange of Southern California, Port of Los Angeles, Freight Waves
Data Note: These figures are based on approximations and should not be interpreted as exact.
10/11/21 Update: This infographic was updated to include the number of import containers loaded by the neighboring Port of Long Beach.

Continue Reading

Subscribe

Popular