(CNN) – Billionaire financier George Soros said Sunday he has not decided on whether he will create a super PAC to help President Barack Obama win re-election.
"But I think it's a big, big issue that the 'Citizens United' has really unleashed private money for political purposes that can be used anonymously," Soros said on CNN's "Fareed Zakaria GPS."
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Monday night, the president's re-election campaign announced it would urge donors to contribute to a super PAC supportive of his candidacy called Priorities USA.
The move represented a reversal of Obama's position on the third-party spending giants, which were made possible by the U.S. Supreme Court ruling in 2010 on the Citizens United case.
Super PACs are allowed to raise and spend unlimited amounts of money on a candidate, as long as they don't coordinate with campaigns.
"This isn't just a threat to Democrats," Obama once said of the ruling in 2010. "This is a threat to our democracy."
After seeing the heavy stream of money pouring into Republican super PACs, Obama's campaign decided to change its stance and encourage supporters to donate to Priorities USA.
While Soros hasn't yet made a decision on following course and building his own super PAC, the high-profile Obama supporter cautioned against the impact the groups will have on the 2012 elections.
"This will create an unequal playing field, which will further destroy the political system," he said.
Soros added that he's always been open about giving away his money, and only does so on principle, "not for pursuit of my private interests."
"So whatever I decide, I will state what I'm deciding, but I'm distressed by the problem that 'Citizens United' has created," he said.
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I hope Soros and others get behind Obama. And if Obama's campaign raised more $$ than the GOP giving him and the Dems an advantage – we'll see NEW laws enacted by the GOIP Congress to do away with this farce!
King Barak H. Obama loves money as raise taxes.
American Revolutionary Wars II will begin.
Soros should fund a Super Pac with Hundreds of millions of $. Republicans will cry foul... maybe then, and only then, will they get behind the reversal of Citizens United.
It's a funny thing. They're against everything that doesn't directly benefit them but change their mind on the spot the second a particular issue gets too close to home (the most flagrant one might be Dick Cheney's stance on gay rights).
For the record, I'm tired of hearing people say Obama reversed his stance on Super Pacs. He is STILL AGAINST THEM! And he will push for them to be outlawed the second he gets the chance. The problem is, big Republican money will flood riggt wing Super Pacs – and you can't fight against unaccounted money. So good for Obama to be pushing donations to Priorities USA. Again, if he had a choice, Super Pacs wouldn't exist, but he can't bring a knife to a gun fight.
The main difference between Dems and Reps is that Dems don't have to start supporting Super Pacs just because they benefit them (and let's be honest, Obama has some pretty big donors as well). But I guess Republicans don't understand this concept.
This year we have seen Milliners and billionaires are buying the election
But very important note is
GPS is best show, Fareed Zakaria doing lot of research and home works to prove the facts, I wish many watch the show and educate them self
Evil just shows all over this nut.
Cue the conservative wing nuts shouting about Soros' influence while conveniently ignoring the Millions of dollars currently funneling through the SuperPACs of the Koch brothers and Karl Rove.
Obama is a good man but I'm glad he's fighting fire with fire. He is the only chance to somehow overturn this Super Pac fiasco, at least keep the attention on it, because we all know republicans would work hard to make everyone forget about it.
come on george you spent tons of your money the last election.. this time the super pacs are right back at you ..
he is already funding obama...who does he think he is kidding? With obama its always back door and shady dealing...manipulation.
Soros! Yikes! Fast...get Glenn Beck more chalk....oh wait...oh yeay...get him a BIGGER black board too!
I saw one of Obama's campaign ads and found it interesting that it cited Common Cause as an "independent" source of praise for his administration. Of course it's one of many Soros-funded leftist groups, it makes little difference whether he creates a separate PAC or continues to fund the Left through the numerous outlets he's already bankrolling.
Soros! Just the name is like a dogwhistle to the extreme right wing radicals. Expect their hate-filled posts in 3, 2, 1....
The right wingers will flog this story as evidence of President Obama's hypocrisy. On the one hand he doesn't like Citizens United and on the other he may benefit from it.
It is past time to elect a strongly progressive/liberal Congress and undo the damage done to our country by conservatives ranging from Limbaugh to Scalia.
If things stay as they are, elections will become the clash of the billionaires.