This is one for the books! The 2012 presidential election came in at a cost of $2 billion, becoming the most expensive election in American history.
According to The Huffington Post, the final federal finance reports released Thursday tallied both President Obama and Mitt Romney’s complete election costs. With last minute funds from mega-donors and a final push for compelling campaigns, both candidates were expected to top the $1 billion mark.
The final campaign finance tallies filed with the Federal Election Commission included nearly $86 million in fundraising for the losing presidential candidate, Republican Mitt Romney, in the election’s last weeks. That final burst brought the Romney campaign’s total for the election to above $1 billion. Final fundraising and spending totals for President Barack Obama’s victorious drive also topped $1 billion.
Surpassing the $2 billion mark was long expected after an election season dominated by the supercharged competitive pressures that both campaigns faced in mounting massive fundraising blitzes to stoke expensive media ad battles and ground wars. The Obama and Romney campaigns each mobilized competing squads of ultra-wealthy fundraisers, sought aid from free-spending allied super PACs and deployed multimillion-dollar media broadsides and armies of organizers.
Although Obama and Romney were on equal playing grounds as far as money goes, Romney’s camp isn’t tripping about the exuberant amount of money put towards the campaign.
Despite Romney’s bitter election loss, his national finance chairman on Thursday declared a fundraising victory. Spencer Zwick said “every dollar we raised was put to use in the effort to elect Mitt Romney” and described the totals as “the most successful in Republican Party history.”
We can definitely rule out lack of campaign funds for Romney’s loss. He can’t hate on Obama’s success, they both have the same 24 hours…and clearly the same amount in election costs.
SOURCE: Huffington Post