US: $ 2 billion price tag for 2012 presidential election

Washington: Campaign finance filings with the government now show that the cost of the 2012 US presidential race has surpassed $2 billion, a new record. The new tallies released on Thursday, which include nearly $86 million in fundraising by Republican presidential nominee Mitt Romney in the election's final weeks, boosted the total campaign haul over the $2 billion mark.

The campaign's record-breaking expenditures on media ads were fuelled by eye-popping amounts donated to "super" political action committees, including at least $95 million supporting Romney and other Republicans that came from a billionaire Las Vegas casino magnate.

Casino owner Sheldon Adelson and his wife gave $23 million to a super PAC headed by GOP strategist Karl Rove and $10 million to a pro-Romney political committee in recent weeks.

The record-breaking expenditures on media ads were fuelled by eye-popping amounts donated to \'super\' political action committees.

(For updates you can share with your friends, follow IBNLive on Facebook, Twitter, Google+ and Pinterest)