2008 vs. 2012: A New Money Record?

https://readthespirit.com/ourvalues/wp-content/uploads/sites/17/2013/03/wpid-1102_ov_NYTimes_on_campaign_spending.jpgCLICK ON THE IMAGE to visit the New York Times website and see the entire report, including information on Super PACs.Will the 2012 presidential election set a new record for money raised and spent? And, assuming a new record is set, how different will it be from the spending in 2008?

All week, we’ve discussed what’s different in 2012 from 2008: less interest this time, shifting political affiliations, the rising importance of social media, and a predicted lower voter turnout. Today, we follow the money.

As a starting point, consider that the 2008 presidential election was the costliest ever at that time. Obama and McCain spent about $1.7 billion. It looks like a new record will be set in 2012, but not by a huge margin.

By the end of September, the Obama campaign had spent $852.9 million of the $934 million it had raised, according to the New York Times. The Romney campaign had spent $752.3 million of the $881.8 million it had raised.

The two campaigns differ in the size of donations made by individuals. Over half (56%) of donations to Obama were under $200 each. Only 11% were the maximum of $2,500. In contrast, 23% of donations to Romney were under $200 each, with 42% at the maximum allowed for an individual.

The size of donations from Super PACs was more similar, though Obama tended to get more big-check donations than Romney did. Almost half (49%) of Super PAC donations to Obama were $1 million or more each. Romney secured 38% of Super PAC donations in the $1 million or more range. There is no maximum limit to the size of Super PAC donations.

What do you make of the price tag of running a president campaign?

Is it worth billions of dollars?

Should there be a cap on how much money a candidate can raise and spend?

Please, leave a Comment below.

Originally published at www.OurValues.org, an experiment in civil dialogue about American values.

Print Friendly, PDF & Email