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Top News November 3, 2008  RSS feed

Are they buying your vote?

Are they buying your vote?

Can millions of dollars literally buy a presidency? It’s certainly money that can win your vote and possibly win the white House.

 

This national presidential election is one of the most closely watched ever, but it's also the most expensive, with a total projected cost of $5 billion. That’s a B - billion!

And there is no comparison on who spent more.

Democratic hopeful Barack Obama has broken all previous records in campaign spending. His latest commercial was a 30-minute ad that aired Wednesday night on several major networks. That prime-time infomercial cost him $4 million.

In some states, Obama has spent up to 12 times more than Republican candidate John McCain.

This year's presidential fundraising total is expected to top $1.7 billion. That's 10 times more than three decades ago.

Obama abandoned the public financing system - after pledging to participate if McCain did - and raised private funds. McCain took public funds for the general election that came with limits on spending.

With all that money and no spending limits, Obama blanketed the country with his message. As of mid-October, he had spent $240 million on broadcast ads. He spent $77 million in the first half of October.

He pinpointed audiences with ads on such video games as "Guitar Hero" and "Madden NFL 09." He also bought national network advertising that culminated with that $4 million ad last week.

"The system we have now, we're electing the best fundraisers and not necessarily the best leaders," said Daniel Newman, executive director MAPLight.org, a nonpartisan watchdog group.

Tuesday we find out if the money was worth it.