Forget $1 billion, the $3 billion campaign is here
June 25th, 2012
07:55 PM ET
2 years ago

Forget $1 billion, the $3 billion campaign is here

(CNN) - We've heard projections of the $1 billion campaign.

That was months ago. Now, see the $3 billion campaign.

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Campaigns, parties, and PACs have raked in over $2.9 billion so far this year, and spent over $2 billion, according to a Federal Election Commission analysis of the first 15 months of the 2012 cycle released on Monday.

That includes monies brought in by the campaigns and allies of President Barack Obama and presumptive Republican nominee Mitt Romney, Romney's former GOP rivals, more than 1,100 campaigns for seats in the House and Senate, plus funds raised by party committees, PACs, and super PACs. The FEC numbers include contributions and spending from January 2011 through March 2012.

The single largest portion of the $2.9 billion raised was brought in by political action committees, which accounted for $986.4 million. The committees have spent $785 million so far, leaving money still in their coffers, and for many of the most influential groups, the wells are far from dry.

The presidential campaigns – including those candidates for the GOP nomination who dropped out – accounted for $418 million.

Senior advisers to Obama's campaign told reporters last Friday that they foresee Romney raising over $1 billion this year – and possibly $100 million this month.

That follows months of rumors that Obama, who raised $778 million last cycle, might hit $1 billion for his re-election bid – something his campaign advisers have rejected.

Both candidates are well on their way.

Romney's campaign and allies raised $77 million in May, outraising the president's re-election and allies for the first time. Obama's campaign and allies brought in $60 million that month.

Romney's campaign had raised $123 million through the end of May, the cutoff for the most recent financial disclosure documents available.

Obama's campaign had even more through the same period: $261 million.

And now, the campaigns are coordinating their fund-raising through joint committees, the Obama and Romney Victory Funds, which include the candidate's party and some state party committees.

Candidates for the House and Senate have raised $884 million thus far, approximately two-thirds of that by campaigns for House seats.

That's more than twice the amount raised by congressional campaigns at this point in 2002, and $27 million more than campaigns for a seat on Capitol Hill at this point in 2010.

The Democratic National Committee has thus far outraised the Republican National Committee, and the Democratic Senatorial Campaign Committee and Democratic Congressional Campaign Committee have outraised their GOP counterparts, the National Republican Senatorial Committee and the National Republican Campaign Committee.

All together, Democratic committees have raised $351 million to the Republicans' $304 million so far this cycle.

The total haul of national, state, and local party committees is $658 million, according to the FEC report.

Also see:

Pawlenty: I'm best as a volunteer

Romney adviser: Obama immigration measure subject to repeal

Romney makes rounds at donor retreat

Jarrett to NABJ: White House bracing for health care decision


Filed under: 2012 • Fundraising
soundoff (22 Responses)
  1. jane

    far toooooooo much money...both candidates are bought and sold....mean while all we do is fight amongst ourselves like children....

    June 25, 2012 08:02 pm at 8:02 pm |
  2. Pushism

    No wonder why this Country is in the dumps!

    June 25, 2012 08:18 pm at 8:18 pm |
  3. once upon a horse

    not bad for a country where I keep hearing we are BROKE and nobody has any money. A great way to come out of a recession don't you think? Just think of other places that those billions could be better used.

    June 25, 2012 08:50 pm at 8:50 pm |
  4. judy

    most democratic money comes from the little guy. we can't keep up with the big pacs. .looks like the country will be run by afew rich guys and foreign money. thank you supreme court. It is pretty obvious that the court is bias by this and the Arizonia ruling today. So much for ourhealth care.

    June 25, 2012 09:05 pm at 9:05 pm |
  5. vic , nashville ,tn

    Thanks to our election system we will $ 3 billions stimulus
    Thanks to our election system rich are paying high rate tax to stimulate the economy

    June 25, 2012 09:21 pm at 9:21 pm |
  6. Republican Grandma

    He is going to abolish social security and Medicare. I won't vote for him for sure.

    June 25, 2012 09:26 pm at 9:26 pm |
  7. Average Joe

    I don't care what party you belong to, a $3 billion campaign is obscene.

    June 25, 2012 09:34 pm at 9:34 pm |
  8. BeverlyNC

    This amount of money wasted on a campaign is sickening. When we think of all the People losing their homes, going without food, having no jobs that these corporate monies could be used to create but won't, and how Republicans have more plans to end all social programs from Medicare to Social Security to veteran pensions to food stamps to education because they say there is no money for them – yet waste BILLIONS for a power grab it shows their priorities and leadership skills are wrong and non-existent. The Republicans on the Supreme Court should be ashamed of what damage they have done to our democracy. This is insanity and shows misplaced humanity.

    June 25, 2012 09:37 pm at 9:37 pm |
  9. Darryl

    It's a shame that the United States is actually up for Sale. This county ? I absolutely have NO RESPECT for any longer.

    June 25, 2012 09:44 pm at 9:44 pm |
  10. ejktexas

    I'm not sure what's worse- spending over $1 billion on an election or knowing that one of these guys will have spent over $1 billion to lose an election.

    June 25, 2012 10:33 pm at 10:33 pm |
  11. T'sah from Virginia

    Okay – so I guess the PRIVATE SECTORS are doing fine – they have money to waste in order to buy an election instead of putting that money towards JOBS... Well, maybe they are putting it towards JOBS – Advertising agencies!!

    Obama's fundraising = Grassroot
    Romney's fundraising = 190 or so KOCHs and Company!!!

    Obama 2012 – The Only Trusted Way Forward!!!

    June 25, 2012 10:34 pm at 10:34 pm |
  12. dle

    Why don't they use these so called campoainge funds to lower the deficet? Then they would really be doing something productive.

    June 25, 2012 10:35 pm at 10:35 pm |
  13. S.B. Stein E.B. NJ

    It is sad that this kind of money needs to be raised for any campaign. If the Supreme Court hadn't screwed up, there would be less money in this campaign. The conservatives on the court don't understand the real world and the corrupting influence of money... Or maybe they do and see the rich wil support the conservatives who can suppress the voting and freedom of speech of the masses.

    June 25, 2012 10:36 pm at 10:36 pm |
  14. T'sah from Virginia

    ◄◄Brewer, outraged by the announcement, argued the decision was politically-motivated and said the government was making Arizona "a target."

    "The people of America ought to be outraged," she said. "This is absolutely an assault." ◄

    LMAO – Hmm, I wonder who is she "waving her finger" at now???? That's what you get for disrespecting the President of the United States!!!

    Obama 2012 – The Only Trusted Way Forward!

    June 25, 2012 10:42 pm at 10:42 pm |
  15. steve

    Obama

    June 25, 2012 11:40 pm at 11:40 pm |
  16. Thomas

    Sick , Disgusting , Gluttony !

    Who say's the economy is doing poorly ?

    Not Karl Rove !

    June 25, 2012 11:48 pm at 11:48 pm |
  17. Arturo Torres

    No more high school abusive behaviors. No more calling opposing teams USA or Arizona because other team is hispanic. That is child abuse.

    June 26, 2012 01:15 am at 1:15 am |
  18. chuck wagon

    It's ironic campaign spending continues to rise to excessive levels and the cost of living a comfortable life here is being castrated by legislation and regulations while the quality of life here steadily declines for the majority citizens.

    June 26, 2012 02:00 am at 2:00 am |
  19. The GOP needs to pack up and leave

    All campaign contributions should go to helping the economy, not electing politicians.

    June 26, 2012 06:55 am at 6:55 am |
  20. AlSonny

    Supreme Court is to be complimented for improving the economy by encouraging corruption of unlimited bribery mechanism of politics. Impeach corrupted Justices!

    June 26, 2012 07:15 am at 7:15 am |
  21. Tony

    If the GOP had a credible candidate, Obama would be in trouble. But since their most credible candidate is Romney, a man with zero credibility, Obama is in good shape. Even Romney's supporters don't trust him, because they know that he can change his positions at any time.

    June 26, 2012 07:36 am at 7:36 am |
  22. Wake up people

    Woo we! The best election BIG money can buy. Lord help us.

    OBAMA 2012!

    June 26, 2012 07:58 am at 7:58 am |