Wednesday, March 21, 2012
U.S. presidential campaign very expensive
Reuters has posted a partial list of money raised and expenditures up to Feb. 29 during the U.S. presidential primaries and campaign. See this article.
The information is taken from Federal Election Commission filings. The data also contain information on the Super PAC's that can raise and spend unlimited amounts. Here are a few of the dollar figures.
Barack Obama raised 120.1 million. He spent 135.4 million. However , he still has 42 million on hand with oustanding debt just over 30,000 dollars.
The second place Republican presidential candidate Rick Santorum raised 15.6 million while spending 13.1 million. He has 2.6 million on hand. No doubt he will need to go up against Mitt Romney. He has outstanding debt approaching one million.
Among the Super PACs Restore Our Future which supports front running Republican candidate Mitt Romney raised 43.2 million while spending 32.7 million so far. In contrast Endorse Liberty a Super PAC supporting Ron Paul raised only 3.7 million and spent 3.5. For more see the full article. U.S. election cost big bucks and no doubt big contributors expect a return on their investment through policies friendly to their cause. As someone--I forget who-- said: "The U.S. has the best democracy money can buy.""