Our friends over at the indispensable Center for Responsive Politics (CRP) have made their prediction for the cost of the 2008 elections: $5.3 billion. Yes, that's a b. And that's a huge increase from the $4 billion raised in 2004.
According to CRP, "At $5.3 billion, the 2008 contests will add up to the most expensive U.S. election in history (and, thus, probably the most expensive election the world has ever seen)."
Some other points they highlight:
- The presidential race will cost nearly $2.4 billion. Presidential fundraising may double that of 2000 and 2004.
- The top giving industry is finance, insurance and real estate. As we've said before, there's a reason our economy is in the mess its in.
- The top corporation giving through PACs and individuals is financial giant Goldman Sachs.
While I'm not sure I look forward to seeing additional data from CRP, I will make sure to check it out.