It Was Indeed a $2B Election

The country's first $2 billion election is in the books. The fundraising reports have been filed with the Federal Election Commission, and here's the tally: Obama with $1.123 billion, to Romney's $1.019 billion. Politico and the AP break down the numbers:

• There was a rash of giving at the last minute: About a fifth of what the pro-Obama Priorities USA Action raised came during the last weeks of the campaign. It spent about $21 million after Oct. 16, which Politico calls "remarkable, considering Priorities USA Action began the year destitute."

• Obama actually ended up outspending Romney in the campaign's final days, spending $176.4 million between Oct. 18 and Election Day. That's $71 million more than his rival spent. (And if you've ever thought "man, that money could have been spent on something more useful," Politico puts it in perspective: The president's 11th-hour spending could run all government operations for Dayton, Ohio, for more than a year.)
• Sheldon Adelson gave right up to "the bitter end," depositing $10 million into the coffers of pro-Romney super PAC Restore Our Future on Oct. 19. He also handed Karl Rove's American Crossroads $23 million as the campaign neared the finish.
• There won't be an Election 2016 for Obama, but he's likely not done fundraising: As of Nov. 26, there was $5.4 million left in his campaign account, but $7.22 million in debt.