2012 Presidential Election Breaks Fundraising Record

The 2012 presidential election broke the $2 billion milestone in its final weeks, becoming the most expensive in American political history, according to final federal finance reports released Thursday. The reports detailed a last-minute cascade of money from mega-donors and an onslaught of spending by the Obama and Romney campaigns and "super" political action committees. The Romney campaign's total for the election was more than $1 billion. Final fundraising and spending totals for President Barack Obama's victorious drive also topped $1 billion.