Will President Obama be the first billion-dollar man?
He raised and spent $750 million in the 2008 campaign, and there is already speculation that the cash-collection operation for his 2012 reelection bid will crest the once-unimaginable sum of $1 billion raised. (That’s a one and nine zeros. Nine!)
“It’s not unrealistic at all, given the amount raised and spent in 2008 and the amount Republican interest groups and 527s will spend against him,” said a former Obama administration official.
A look at the trend line of fundraising for presidential candidates over the past several elections suggests a doubling effect every four years.