by Mark Silva

There are the best of times, and the worst of times, for Washington lobbyists.

Their lobbying revenue for the past year is likely to approach $2.9 billion --OK, that's only about one percent of the amount of the federal budget -- and that's just the part that must be disclosed under federal law, note the authors of a National Journal article about Washington's K Street crowd.

Yet, for all the money they've made, lobbyists and their firms are now targeted as never before,Peter H. Stone and Bara Vaida write in the National Journal's cover story.

They are still recovering from the scandals that sent former lobbyist Jack Abramoff and former Reps. Bob Ney, an Ohio Republican, and Randy (Duke) Cunningham, a Republican from California, to prison for their roles in fraud and corruption cases, the authors note.

"And last year, Congress passed tough reforms that cracked down on many of K Street's most hallowed practices,'' they write. "Gone are the days when lobbyists could buy meals and gifts for lawmakers and their staffers and could finance entertainment, corporate jets, and junkets...

"As if that were not enough, the lobbying class -- long derided outside the Beltway as the scourge of Washington -- is a convenient punching bag in the presidential campaign,'' they write. "After winning the Wisconsin primary on February 19, Sen. Barack Obama, (D-Ill.), declared in a victory speech: 'Washington has become a place where good ideas go to die... because lobbyists crush them with their money and influence.'

"Obama has refused campaign donations from registered lobbyists, although the relatives of federally registered lobbyists, state lobbyists, and people who work for lobbying firms (but aren't registered as lobbyists) have donated money to his campaign. Moreover, lobbyists are serving in the Obama campaign as policy advisers and other key players.''

See the report about the plight of K Street in the National Journal.