Future Hindsight – Following the Money in Politics: Hilary Braseth

Release Date: October 2, 2025
Guest: Hilary Braseth, Executive Director of Open Secrets
Host: Mila Atmos

Episode Overview

This episode explores the intricate and often opaque influence of money in American politics. Host Mila Atmos talks with Hilary Braseth of Open Secrets—the nation’s foremost tracker of political finance, lobbying, and electoral spending—about the impact of transparency, the evolving tactics of donors and corporations, and how ordinary citizens can use data to hold their representatives accountable. The discussion surfaces core tensions at the intersection of democracy and capitalism, demystifies “dark money,” and underscores the urgent need for civic engagement in an era of record-shattering political spending.

Key Discussion Points & Insights

1. The Work of Open Secrets

[02:07–05:09]

• Mission: Nonpartisan, independent nonprofit tracking the flow of money in U.S. politics for over four decades.
  • Tracks federal and all 50 state campaign contributions, lobbying activities, and (historically) stock trades by Congress members.
  • Holds unique, comprehensive databases—some records go back to the 1980s and are unavailable elsewhere.
  • Challenges: Some state data is only accessible via handwritten PDFs, mailed CDs, or is not digitally standardized, making aggregation laborious.
• Quote:
  • “Open Secrets is truly the only source of that data. And we also are an archive or a library because our data goes back to the 80s and in some instances that data is no longer available elsewhere.” – Hilary Braseth [04:39]

2. Why Transparency Matters

[05:09–08:02]

• Transparency is a “baseline, a priori necessary factor for democracy to function.”
• Money in politics doesn’t always equal corruption; but seeing the data allows for public scrutiny and accountability.
• Money and democracy are inevitably intertwined—watching the flow allows citizens and watchdogs to spot patterns and potential abuses.
• Politics is a 24/7 process, not just about elections. The hope is to inspire continuous public engagement, not just during voting cycles.
• Quote:
  • “Money being a part of this process is an inevitability. We live in a system where we have these two pillars, capitalism and democracy, and it’s inevitable that the two will intersect…” – Hilary Braseth [06:30]

3. Public Interest & Data Use

[08:02–10:27]

• Open Secrets saw 11 million unique visitors last presidential cycle; traffic is increasing even in non-election years.
• 50,000 site searches daily; search trends closely follow breaking news, indicating a shift from traditional media to primary source data.
• The team carefully contextualizes data to avoid misinterpretation or misinformation.
• Quote:
  • “Without fail, when something happens in the news… the top trending searches are a name associated with what happened in the news...This indicates increasingly people want access to primary source information and data in a landscape where traditional sources of media are also losing trust.” – Hilary Braseth [09:26]

4. What Constitutes Corruption?

[10:27–14:29]

• New technology and AI now empower Open Secrets to identify anomalies and patterns, such as sudden spikes in industry lobbying around pending legislation.
• Example: In 2009, proposed soda tax led to a doubling of lobbying by the sugary beverage industry, and the tax failed to pass.
• Ongoing puzzle: Is heavy lobbying always a corruption indicator, or just strategic interest?
• Watch for industry responses to policy threats, e.g., anticipated pharma lobbying as regulations increase.
• Quote:
  • “I think we’re just now going to be seeing an era where we can do that analysis more rigorously.” – Hilary Braseth [11:46]

5. The “Price of Democracy” and Representation

[14:29–17:59]

• Policy innovation matters: e.g., New York City’s public matching fund system empowers non-wealthy candidates.
• Data reveal most congressional candidates now receive the majority of their funding from outside their own jurisdictions—a challenge to traditional ideas of representation.
• “Existential” question: If politicians’ campaign funds mostly come from non-constituents, whose interests do they really serve?
• Quote:
  • “To me, that’s the real price. That’s the real existential question at play here. Are we okay with the fact that… the majority of money going to campaigns… comes from outside the area that they’re going to end up governing?” – Hilary Braseth [16:38]

6. Citizens United and the Explosion of Political Spending

[21:59–23:44]

• Citizens United (2010) (and SpeechNow v. FEC) led to the rise of Super PACs and “independent expenditure” entities.
• Campaign spending skyrocketed: 2024 cycle cost ~$15 billion—a massive increase from ~$2 billion in 2008.
• The “vicious cycle” of perpetual fundraising entrenches the influence of big money.
• Quote:
  • “Since 2010… it’s astronomically increased year over year to the tune of last year, being at around $15 billion for the total cost of the election.” – Hilary Braseth [23:18]
• Widespread public disapproval: ~80% of Americans dislike the amount of money in politics, but systemic incentives keep the status quo.

7. State-Level Reform & Grassroots Efforts

[23:44–26:44]

• States like Maine, Michigan, and Montana are experimenting with contribution limits and redefining rules for corporate giving, even as legal challenges persist.
• These state-level movements offer hope in a gridlocked federal landscape and demonstrate rare bipartisan agreement on the urge to reduce money’s sway.

8. Dark Money and Its Mechanics

[26:44–29:15]

• Definitions:
  • Super PACs: Can take unlimited donations but must disclose donors.
  • Dark Money: Arises when Super PACs receive funds from LLCs or 501(c)(4) entities that don’t disclose their own donors, obscuring the real source.
  • Coordination: Super PACs are not legally allowed to coordinate with campaigns, but enforcement is weak and the line is blurry.
• Open Secrets rigorously classifies disclosed, partially disclosed, and opaque funding to shine light on these structures.
• Quote:
  • “If a super PAC is the thing that's spending money on behalf of a candidate, receiving unlimited donations from potentially an LLC or a C4 where you don't know where their true source of money comes from, that then becomes classified as a dark money source.” – Hilary Braseth [27:38]

9. Open Secrets’ History and Institutional Memory

[29:41–31:45]

• Founded in the 1980s by two bipartisan senators alarmed by rising money in politics.
• Originally published as a 1,500-page book; became one of the pioneering transparency websites in the 1990s.
• Staff expertise dates back decades—described as “a national treasure.”

10. Cryptocurrency and New Forms of Influence

[31:45–33:59]

• Open Secrets tracks lobbying and campaign donations from crypto companies, but not consumer crypto purchases like “TrumpCoin.”
• High-profile deals (e.g., UAE/Trump/crypto/AI chips) are often outside their purview unless reflected in legally required disclosures.

Notable Quotes & Memorable Moments

• On the Purpose of Transparency:

  • “Transparency is a baseline, a priori necessary factor for democracy to function.” – Hilary Braseth [05:31]

• On Lobbying as Legalized Corruption:

  • “It feels like lobbying is just straight up legalized corruption.” – Mila Atmos [14:29]

• On Representation and Out-of-State Money:

  • “Are we okay with the fact that… the majority of money going to campaigns… comes from outside the area that they’re going to end up governing?” – Hilary Braseth [16:38]

• On the Post–Citizens United Era:

  • “Since 2010… it’s astronomically increased year over year to the tune of last year, being at around $15 billion for the total cost of the election.” – Hilary Braseth [23:18]

• On Hope and Civic Togetherness:

  • “What makes me hopeful…are examples of people coming together across difference. This is…me, Hillary, talking at this point. But… there’s a need to get back to basics where we foster a sense of curiosity around another person, another group, another belief system…” – Hilary Braseth [35:13]

Actionable Takeaways (Civic Spark)

[34:15–35:03]

• Visit Open Secrets' website and look up your state and representatives.
• Use accessible data to inform yourself and fuel local and state-level activism, such as advocating for campaign finance reform or joining grassroots efforts.
• Get involved in civic life outside of election cycles.

Timestamps for Key Segments

• Open Secrets’ Mission & Methods: [02:07–05:09]
• Transparency & Democracy: [05:09–08:02]
• Website Usage & Public Trends: [08:02–10:27]
• Identifying Corruption Patterns: [10:27–14:29]
• Representation Crisis & State Reforms: [14:29–17:59]
• Citizens United & Big Money: [21:59–23:44]
• Dark Money Explained: [26:44–29:15]
• History of Open Secrets: [29:41–31:45]
• Crypto Influence & Tracking Limits: [31:45–33:59]
• Civic Spark – Taking Action: [34:15–35:03]
• On Hope & Bridging Divides: [35:13–36:11]

Concluding Note

This episode provides a comprehensive, sometimes sobering, look at the machinery of money in U.S. politics. Hilary Braseth’s insights drive home the value of transparency, the scale of post–Citizens United spending, and the urgent need for citizens to arm themselves with data-driven awareness. Listeners come away with a toolkit for investigative self-education—and a reminder that democracy, and hope, depend on the persistent engagement of an informed public.