Just when you were fed up with our petty, craven politics and were ready to write off the next few years as a circus of filibusters, gridlock and investigations, comes an idea so simple yet subversive that it offers a glorious ray of hope.

Call it Lawrence Lessig’s “money bomb.” It’s an ingenious plan to make the drive for small-dollar publicly funded elections a central issue in 2016. With a little luck, the Harvard law professor’s idea could help save the republic.

Here’s why. Everyone knows the ubiquity of big money in politics undermines democracy. But the mechanics of the money chase now warps daily political life so thoroughly that it would seem funny if it weren’t so shocking.

New legislators are told by party leaders to spend no less than four hours a day “dialing for dollars” for reelection. That’s twice the time they’re expected to spend on committee work, floor votes or meeting with constituents. And it doesn’t count the fundraisers they attend in their “free time.”

“Members routinely duck out of the House office buildings, where they are prohibited by law from campaigning,” the Boston Globe recently reported, “and walk across the street to the Democratic Congressional Campaign Committee offices.... There, on the second floor, 30 to 40 legislators and their staffers squeeze into the ‘bullpen’ ... a makeshift call center of about two dozen cubicles, each 2½ feet wide and equipped with two land lines.”

The two parties function “basically like telemarketing firms,” Tom Perriello, a Virginia Democrat who lost in 2010 after serving one term in the House, told the Globe. “’You go down on any given evening and you’ve got 30 members with headsets on dialing and dialing and dialing, trying to close the deal.’”

This is your democracy at work.

“I won’t dispute for one second the problems of a system that demands immense amount of fund-raisers by its legislators,” Rep. Jim Himes (D- Conn.) told the New York Times the other day. “It’s appalling, it’s disgusting, it’s wasteful and it opens the possibility of conflicts of interest and corruption.

“It’s unfortunately the world we live in,” he added.

Well! At least our leaders are ushering in American decline with eyes wide open. As Lessig pointed out in an interview, our leaders are groveling half a day every day to just 150,000 out of the 311 million of us. Forget “the 1 percent.” This is the one-twentieth of 1 percent who can afford to give a couple of thousand dollars to campaigns.

What does this brand of begging do to elected officials? How does it skew what gets on the agenda? What kind of person wants to do this kind of work? How many rhetorical questions are needed to convince you this situation is corrupt and insane?

Enter Lessig’s idea. He’s working to launch “a super PAC to end all super PACs.” He wants 50 patriotic billionaires to pony up $20 million to $40 million dollars each (provided their fellow tycoons do the same). Toss in contributions from less well-heeled folks who believe in the cause. Presto: You have a $1 billion to $2 billion dollar war chest devoted to making grass-roots public funding of campaigns a viable path to office.

The super PAC would champion a short slate of reforms centered around publicly supported small-dollar campaign funding. It would intervene in campaigns to help elect congressional candidates who sign on to this agenda and to defeat candidates who oppose it. Building on recent reforms in Connecticut and New York, the bedrock fix might involve a system of matching grants or tax credits or vouchers that enable average citizens (via public dollars) to be the main source of finance for competitive campaigns.

Politicos are helping Lessig develop a more precise, district-by-district estimate of how much money it would take to win a congressional majority pledged to these reforms, but his guesstimate feels like it is in the ballpark.

What we have here, of course, is a plot through which billionaires lead the charge to get money out of politics. “You have to embrace the irony,” Lessig told me.

I agree. If such folks are willing to invest big sums to reduce their own power, more power to them. Jonathan Soros piloted a miniature version of such a super PAC in the last election, and with just $2.4 million helped defeat seven of eight candidates targeted for caving to special interest cash. Lessig said that if this “money bomb” can be up and running even on a modest basis by 2014, it might put a scare into candidates and raise the odds that in 2016 they’ll commit to reform. (A new group, Fund for the Republic, is helping explore the idea).

When I worked in the Clinton White House, I heard Al Gore say something I’ve never forgotten. It was in an early meeting on health care reform in the Cabinet Room. Gore observed matter-of-factly that “we’ll never do health care reform right unless we do campaign finance reform first.” Twenty years later, his point still rings true for every major plank on the agenda for American renewal.

If enough high-net-worth patriots from both parties see past the irony to its potential, Lessig’s money bomb might just be the beginning of a cure.

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