Mallory Factor, the head of the New York “Monday Meeting,” has a good overview of Big Labor’s obscene political spending and what it will be cashing in should its candidates — including Barack Obama — win elective office this November.

Indeed, Big Labor is launching its largest political campaign in its history, and this year, more than ever, Big Labor means Big Money. The two largest union coalitions — the AFL-CIO and the “Change to Win” Federation, a coalition of labor unions formed in 2005 as an alternative to the AFL-CIO — admit that they will spend at least $300 million on federal elections alone. When combined with political action committees, local unions and other union funders, at least $1 billion of pro-union money is being dumped into electioneering. You can bet the union bosses expect a lot of “change” from Obama next year on labor law. An Obama administration — possibly coupled with a filibuster-proof Senate — will feel a real sense of obligation to repay Big Labor that supported them.