In the remaining hours of the 2012 Elections, it has been reported that the Obama and Romney campaigns have collectively spent $30.33 per second during the election cycle as they race neck and neck to win the office of president. Money has been spent on a variety of media ranging from TV spots to rallies.
Through the middle of October the Romney and Obama campaigns have spent $1.7 billion, which in turn comes out to about $2.6 million a day. This is all according to data provided by the Federal Election Commission, and it shows why exactly the two candidates have been at work so hard with fundraising during this 2012 Election.
On the Democratic side, the Obama campaign spent $553.2 million, with the DNC spending $263.2 million. Obama’s biggest “Super-Pacs” gave another $58 million, which puts Obama at a staggering $874.6 million dollars spent for the election cycle.
The Romney campaign also has high numbers in terms of money spent, with the Romney campaign spending $360.4 million and the RNC putting in an additional $284.2 million. Romney also has his own fair share of Super-Pacs, who have given $200.1 million. His total has topped out at $844.6 million of campaign spending.
These are some very high numbers, especially when they are compared to previous election cycles. The cost to reach voters has inflated exponentially, and it may have some wondering if it is no longer about politics and policy, but about who ends up with the most money. It may be that some will begin to reflect that the cost of a presidential election could be much better spent on other things such as social issues and the environment.
With the costs of election this high, it is fair to assume that election costs will continue to inflate as Election Day draw even more down the middle. It is possible that the price could deflate if there become more options for voters.