Government affairs
Legislative Updates
In 2012, Barack Obama spent $1.123 billion to run for president, with Mitt Romney just coming up shy with $1.019 billion–the most expensive presidential campaigns in history. Now, the 2016 presidential elections are shaping up to require at least the same amount of money, if not more.
In fact, Don Peebles, the real estate mogul and top political fundraiser who served on President Obama’s national finance committee, is already predicting that this presidential election will cost as much as $5 billion. Nonetheless, the dramatic rise in campaign expenditures in 2012 represented a large gap from the previous several elections:
- In 2008, Barack Obama spent $730 million while John McCain spent $333 million.
- In 2004, George W. Bush spent $367 million, whereas John Kerry spent $328 million.
- After winning the presidency in 2000, George W. Bush had spent just $185 million.
Take a look at what President Obama’s 2012 campaign expenditures went toward:
