<p>Notwithstanding a weak economy, the 2012 general elections will be the most expensive in US history, costing a whopping USD 6 billion, with the presidential race alone accounting for $ 2.6 billion.<br /><br />With an estimated expenditure of $ 6 billion, the 2012 general election is set to beat the cost of the 2008 polls by about $700 million, a non-profit think-tank has said in a report.<br /><br />“In the new campaign finance landscape post-Citizens United, we’re seeing historic spending levels spurred by outside groups dominated by a small number of individuals and organisations making exceptional contributions,” Sheila Krumholz, executive director of the Center for Responsive Politics, said.<br /><br />Not only is the total cost of the election record-breaking, but the rate at which spending has increased — and continues to increase — in the closing weeks of the election as well, the report said.</p>.<p>In particular, outside groups are spending furiously. Spending by these groups, for and against the two main presidential candidates, has grown from $19 million per week in early September to 33 million per week in early October, to $70 million during the week beginning October 21.<br /><br />The November 6 presidential election, between President Barack Obama and his Republican rival Mitt Romney, which alone accounts for $2.6 billion, is actually a decrease from 2008, when nearly $2.8 billion was directed at the presidential race, the report said. <br /><br />In 2012, presidential candidates along with major party committees are expected to spend about $ 2 billion. Outside organisations that report spending to the Federal Election Commission are predicted to spend more than $ 528 million to influence the presidential race.</p>
<p>Notwithstanding a weak economy, the 2012 general elections will be the most expensive in US history, costing a whopping USD 6 billion, with the presidential race alone accounting for $ 2.6 billion.<br /><br />With an estimated expenditure of $ 6 billion, the 2012 general election is set to beat the cost of the 2008 polls by about $700 million, a non-profit think-tank has said in a report.<br /><br />“In the new campaign finance landscape post-Citizens United, we’re seeing historic spending levels spurred by outside groups dominated by a small number of individuals and organisations making exceptional contributions,” Sheila Krumholz, executive director of the Center for Responsive Politics, said.<br /><br />Not only is the total cost of the election record-breaking, but the rate at which spending has increased — and continues to increase — in the closing weeks of the election as well, the report said.</p>.<p>In particular, outside groups are spending furiously. Spending by these groups, for and against the two main presidential candidates, has grown from $19 million per week in early September to 33 million per week in early October, to $70 million during the week beginning October 21.<br /><br />The November 6 presidential election, between President Barack Obama and his Republican rival Mitt Romney, which alone accounts for $2.6 billion, is actually a decrease from 2008, when nearly $2.8 billion was directed at the presidential race, the report said. <br /><br />In 2012, presidential candidates along with major party committees are expected to spend about $ 2 billion. Outside organisations that report spending to the Federal Election Commission are predicted to spend more than $ 528 million to influence the presidential race.</p>