George Soros would prove to be a key player in the 2006 midterm elections that saw Democrats seize control of Congress. Of particular significance was Democracy Alliance, a non-tax-exempt nonprofit entity registered in the District of Columbia, which Soros had founded and funded 2005., and whose long-term objective was to develop a funding clearinghouse for leftist.
In 2008, Soros was again a major force in the movement that not only expanded the Democratic Party's congressional majorities, but also delivered the presidency to Barack Obama.
Soros' ties to Obama date back to 2004, when the multi-billionaire hosted a fundraiser for Obama during the latter's 2004 campaign for the U.S. Senate.
In December of 2006, as Obama contemplated making a run for the presidency in 2008, Soros met in his New York office with the Illinois senator. Then, on January 16, 2007, Obama announced the creation of a presidential exploratory committee. Within hours, Soros sent the senator a contribution of $2,100, the maximum amount allowable under campaign finance laws.
Later that week, the New York Daily News reported that Soros would back Obama over the Democrat he had previously favored for the presidency, Hillary Clinton. Soros averred, however, that he would support Mrs. Clinton if she (rather than Obama) were ultimately to win the Democratic Party's nomination.
In 2008, Obama announced that upon his election to the office of President, he would create a "Social Investment Fund Network," which would provide federal money to "social entrepreneurs and leading nonprofit organizations [that] are assisting schools, lifting families out of poverty, filling health care gaps, and inspiring others to lead change in their own communities."
According to columnist Michelle Malkin, "this Barack Obama brainchild would serve as a permanent, taxpayer-backed pipeline to Democratic partisan outfits masquerading as public-interest do-gooders," and would serve as a "George Soros Slush Fund" by continuing to bolster numerous Soros-founded and funded Leftists Socialists organizations.