Election 2012's Projected Tab: $5.8B

Record amount expected to be spent on presidential, congressional races
By Evann Gastaldo,  Newser Staff
Posted Aug 2, 2012 10:21 AM CDT
In this July 18, 2012 file photo, Mitt Romney speaks in Bowling Green, Ohio.   (AP Photo/Evan Vucci, File)
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(Newser) – The USA's continuing economic struggles certainly haven't had a negative impact on campaign spending—which could hit nearly $6 billion this year. A non-partisan group estimates that the total spent on presidential and congressional races will hit $5.8 billion, a record number that would top 2008's $5.4 billion by 7%. Of that, the presidential race is expected to cost $2.5 billion, USA Today reports; more than $1 billion has already been spent in that battle.

"The real difference this cycle is how great a portion of that money will come from purportedly independent, often secretive groups," says the Center for Responsive Politics' executive director.

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