Sen. John Cornyn wants everyone to calm down about a Supreme Court decision that would allow corporations to pour an unlimited amount of cash into campaign advertisements. Cornyn believes the effect of the decision has been "overstated."

"I think [the impact has] been overstated," Cornyn (R-TX) told Fox News' Chris Wallace.

Apparently Cornyn thinks that contributions to campaigns by individual donors is more of a threat than unchecked money from large corporations. "Frankly, there has been an explosion of money into federal races for public office since, well, in the last ten years since campaign finance reform. It hasn't done anything to stop the flow of money in," he said.

"President Obama spent more money in his campaign in 2008 than Senator Kerry and President Bush did in 2004 combined," Cornyn continued.

"What we need is transparency. We need contemporaneous reporting on the Internet. I think that's the kind of accountability that we need," concluded Cornyn.

In an interview a few hours after the decision was announced, Congressman Alan Grayson (D-FL) told Raw Story, "If we do nothing then I think you can kiss your country goodbye."

His attitude reflected the views of Senators McCain and Feingold, President Obama, watchdog groups and 41 industry leaders who called on Congress to halt corporate bribery.

Several non-partisan organizations have begun outreach efforts for fighting the decision through Congress, including the Campaign to Legalize Democracy, Common Cause and Reclaim Democracy.

This video is from Fox Fox News Sunday, broadcast Jan. 24, 2010.

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