Barack Obama, Mitt Romney both topped $1 billion in 2012

Both Obama and Romney declined public financing for their campaigns. | AP and stock photos

 

By KENNETH P. VOGEL, DAVE LEVINTHAL and TARINI PARTI

POLITICO

Obama: $1.123 billion vs. Romney: $1.019 billion.

That’s the final fundraising tally in the most expensive presidential election ever, according to reports filed Thursday with the Federal Election Commission by the rival campaigns and party committees.

And that doesn’t include an explosion of late advertising funded by last-minute checks from mega-donors like Las Vegas casino owner Sheldon Adelson and Chicago media mogul Fred Eychaner, whose emergence as political forces may be the enduring legacy of 2012.

Adelson and his wife gave $39.7 million to GOP-allied super PACs in the campaign’s final weeks to bring their total disclosed contributions to almost $90 million, while Eychaner gave $2 million, bringing his total to $14 million.

Thursday’s filings lay bare those donations and other jaw-dropping financial details of the first modern presidential campaign in which donors could give unlimited contributions for political ads and in which both major party candidates declined to participate in a Watergate-era public financing system designed to limit fundraising. The reports also show how the two candidates and their allies navigated the new big-money system using divergent strategies until the bitter end.

 

Read more: http://www.politico.com/story/2012/12/barack-obama-mitt-romney-both-topped-1-billion-in-2012-84737.html#ixzz2EUFLgcYU

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