May Day, Murdoch and the murder of Milly Dowler. What do they have to do with the 2012 U.S. general election? This year’s election will undoubtedly be the most expensive in U.S. history, with some projections topping $5 billion. Not only has the amount of spending increased, but its nature has as well, following the 2010 U.S. Supreme Court’s Citizens United ruling, which allows unlimited spending by corporations, unions and so-called super PACs, all under the banner of “free speech.” This campaign season will unfold amidst a resurgent Occupy Wall Street movement launched globally on May 1, the same day the British Parliament released a report on Rupert Murdoch’s media empire charging that he is “not a fit person to exercise the stewardship of a major international company.” Now more than ever, people should heed the advice of the famous Watergate source, Deep Throat: “Follow the money.”

Most money in our elections goes to TV stations to run political advertisements. According to writers Robert McChesney and John Nichols in the Monthly Review, the amount of political ad spending is skyrocketing, such that “factoring for inflation, the 1972 election spent less than 3 percent of what will be spent on TV political ads in the 2012 election cycle.”

For just one relatively small race, a recent Pennsylvania congressional primary between Democrats, journalist Ken Knelly provided a comprehensive analysis of the local TV news coverage compared with the ...