BREAKING NEWS
2012 presidential election could be costliest in history
Campaign fundraising passes $2 billion
Posted: 10/26/2012
WASHINGTON - The 2012 presidential campaign has passed the $2 billion mark in fundraising, fueled by an outpouring of cash from both ordinary citizens and the wealthiest Americans hoping to influence the selection of the country's next leader.
The eye-popping figure puts the election on track to be the costliest in modern U.S. history. It comes amid a campaign finance system vastly altered by the proliferation of "super" political committees that are bankrolling a barrage of TV ads in battleground states.
Fundraising reports submitted Thursday night show that President Barack Obama and Republican challenger Mitt Romney have brought in about $1.7 billion so far total.
Added to that: nearly $300 million in donations involving super PACs and tens of millions more going to nonprofit groups that don't have to disclose their donors.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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