Marathon White House race gobbles up campaign funds
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Pricey television ads, private planes and flashy events have drained the bank accounts of US presidential hopefuls, leaving even top-tier candidates struggling to eke out their precious funds.
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Mitt Romney's millions aren't limitless, nor is his willingness to spend them, so the Republican presidential contender has begun taking valuable time from his primary campaign to raise money from outsiders.
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With a Saturday night deadline for second-quarter fundraising fast approaching, presidential candidates from both major parties are scrambling to rake in the cash before the clock runs out.
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Spending by contestants and  supporters in the U.S. elections this year will be nearly $4  billion, the highest ever, a study released on Thursday said.
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President Bush's record campaign fund raising left him with millions of dollars to spare, allowing him to donate &#36;11 million to the Republican Party and even send a few checks to the White House Historical Association.
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Congressional candidates spent a record &#36;911.8 million in last year's races, and several 2006 contests are already showing signs they will carry big price tags.
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Democratic White House hopefuls have opened a fundraising gap of tens of millions of dollars over Republicans, with the 2008 race on course to become the first billion dollar US election.
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Politics is a big-money business: In the current presidential election, President Bush and Sen. John Kerry have raised a combined total of nearly half a billion dollars, according to filings with the Federal Elections Commission.
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House and Senate candidates have spent at least &#36;487 million this election cycle, &#36;130 million more than congressional candidates had poured in by this point in the 2002 races.
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The race to raise funds, hire top staff, and generate media buzz for the 2008 presidential election is already well under way.
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Mike Huckabee's cash-strapped presidential campaign has scraped together enough money to run a new TV ad Â in limited fashion.
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Battling for every dollar and delegate, Barack Obama raised $7.2 million in Super Tuesday's wake and Hillary Rodham Clinton pulled in $6.4 million, stunning totals reflecting the intensity of their neck-and-neck race for the Democratic presidential nomination.
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Whatever the reasons John Kerry and the Democrats lost the race for the White House, lack of money wasn't one. Tax-exempt pro-Democratic groups raising big checks for this year's election collected almost twice as much money as their Republican rivals in the presidential race, a study shows. The financial advantage comes in addition to record fund raising by Kerry, the unsuccessful candidate, and the Democratic Party.
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Democratic candidates for president are outpacing Republicans in donations from the health care industry.
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The campaign of Democrat John F. Kerry has earmarked $6 million for Democratic committees that support congressional candidates from the sizable surplus left over from the privately funded phase of his presidential campaign.
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Facts and figures on spending in the presidential race:
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In the most expensive presidential contest in the nation's history, John F. Kerry and his Democratic supporters nearly matched President Bush and the Republicans, who outspent them by just &#36;60 million, &#36;1.14 billion to &#36;1.08 billion.