Here’s an eye-opening number: The total spending by candidates, political parties and Super PACs on this year’s presidential and congressional elections will be just shy of $6 billion.
So say money-in-politics watchdogs The Center for Responsive Politics. A report on its OpenSecrets blog predicts combined spending for the 2012 elections is on track to exceed its already astronomical prediction of $5.8 billion.
While the CRP notes that direct spending on the presidential election is actually down slightly from 2008 (going from $2.8 million last cycle to an estimated $2.6 million), spending by congressional candidates is up, as is the wave of Super PAC spending and advocacy advertisements funded in the wake of the Supreme Court’s “Citizens United” decision allowing corporate contributions.
“What remains unknown – and may never fully be accounted for – is how much money secretive ‘shadow money’ organizations spent, with some investing massive sums on ads, but also on unreported and purportedly ‘non-political’ activities, as the election neared,” the CRP writes.