Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

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

(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.

In this July 18, 2012 file photo, Mitt Romney speaks in Bowling Green, Ohio.
In this July 18, 2012 file photo, Mitt Romney speaks in Bowling Green, Ohio.   (AP Photo/Evan Vucci, File)
Supporters of President Barack Obama hold signs .
Supporters of President Barack Obama hold signs .   (AP Photo/Jae C. Hong)
« Prev« Prev | Next »Next » Slideshow
My TakeCLICK BELOW TO VOTE
6%
0%
41%
3%
25%
25%
To report an error on this story, notify our editors.
COMMENTS
Showing 3 of 10 comments
cornelison
Aug 3, 2012 12:54 PM CDT
In Canada each party chooses their leader.  Whichever party wins the most seats in Parliament is the governing party.  The leader of that party has to win his/her riding in order to go to Parliament & become the Prime minister.  If the leader loses his/her seat, the party has to choose a leader from within their Parliamentary ranks. In Canada, a political campaign can last 6 - 8 weeks.  In America, campaign seasons are too long, too costly and it's a set up making it harder for those who aren't rich.  This is why most politicians have to favor those who give them the most money.  It's a con game full of corruption.
CopTurnedJournalist
Aug 2, 2012 5:11 PM CDT
Just curious: Does that $5.8 billion include the supreme Court challenge that will come no matter which party loses? #still-disgusted
Toon
Aug 2, 2012 11:33 AM CDT
The media's owners must be ecstatic, since most of this money is going to them.
 

NEWS FROM OUR PARTNERS
Other Sites We Like:   24/7 Wall St.   |   BuzzFeed   |   Cracked   |   Timelines   |   POPSUGAR Tech   |   Business Insider   |   HuffPost Entertainment   |   NewsOne