US ELECTION 2012_ No recession in politics, as 2012 election fundraising sails past the $2BILLION mark - making it the most expensive race ever

No recession in politics, as 2012 election fundraising sails past the $2BILLION mark - making it the most expensive race ever


 _ The eye-popping figure puts the election on track to be the costliest in modern U.S. history
 _ With weeks before the election, both camps insist they will continue to push for even more money
 _ It comes amid a campaign finance system vastly altered by the proliferation of 'super' political action committees (PACs)
 _ The president has tallied up about $1.06 billion while Romney and the Republicans have collected $954 million since the turn of the year
 _ Doctors, insurance companies, accounting and property firms are all turning more to the Republican hopeful 
 _ Retirees, retail employees, hospitals, nursing homes and women’s groups have all sided with Obama

By David GardnerPUBLISHED: 09:29 GMT, 26 October 2012 | UPDATED: 15:39 GMT, 26 October 2012


Barack Obama and White House challenger Mitt Romney are on track to raise more than $2 billion by Election Day – making it by far the most costly presidential race in history.

By November 6, both candidates will have each passed the $1 billion barrier in donations.

Mr Obama is already there, according to financial disclosures filed yesterday. The president and his Democrat Party have tallied up about $1.06 billion while Mr Romney and the Republicans have collected $954 million since the turn of the year.



Big business: President Barack Obama and Republican challenger Mitt Romney have brought in about $1.7billion so far this election, according to fundraising reports


By comparison, Mr Obama raised a total of $750 for his successful 2008 campaign and his opponent, John McCain, raised just (pounds) $130 million, which included a government grant for more than two-thirds of the total.

The sources of the money underline the difference between the two rivals and the kind of support they are attracting.


Read more: http://www.dailymail.co.uk/news/article-2223409/US-election-2012-fundraising-sails-past-2BILLION-mark.html#ixzz2ARJXGK1l

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