Massive final spending push coming in campaign 2012

On the eve of the third and final presidential debate, the latest national polls show the race for the White House is neck-and-neck.

Along with the battle for votes is the unrelenting drive for campaign funds.

Mitt Romney and President Obama spent most of Sunday in debate prep, getting ready to square off Monday night in Florida. But Romney did a break to huddle with his campaign team this morning for a quick game of touch football against the press.

Romney did the coin toss, then jokingly coached his team In the huddle before heading back to his hotel for more debate prep.

Obama, Romney - anyone's game?
Swing state papers give cautious endorsements
Just the facts about ... fact-checking

On Saturday night, Romney held his final fundraiser, as new figures show the two campaigns are on pace to spend a combined $1 billion and more as we approach the last three weeks of the race.

Through September, the Obama campaign had raised a total of $558 million and had spent a total of $462 million. Romney's campaign had raised $357 million and had spent $294 million. But outside spending from independent groups favors Romney 2 to 1, and erases the president's money advantage.

The race is now a dead heat, and expectations are high for the third and final debate, this one on foreign policy and moderated by CBS News' Bob Schieffer.

With the candidates off the trail Sunday, Schieffer on "Face the Nation" moderated a dust-up between two advisers.

Obama campaign official Stephanie Cutter defended the president's use of a new word, saying: "Romnesia is a playful term to describe what Mitt Romney is actually doing in the closing days of this race. Mitt Romney has run as the ideal Tea Party candidate for the last six years, and in the last two weeks of this campaign he is suddenly moving to the middle."

Romney adviser Kevin Madden said the attacks were an attempt to divert attention from the president's failed record, saying: "It hasn't been about talking about what they will do over the next four years to really help rebuild the economy. Instead, they have reduced themselves to very small attacks."

[l_lunette]

Who are these "independent groups?" Because Romney will not release his list of bundlers.

[theakeman9]

This debate says it all: http://modeltstocktrends.blogspot.com/2012/10/were-shakin-cause-economys-not-bakin.html

[kessler49]

Looks like it's 1/2 of what was spent last time, in 2008:

http://www.statista.com/statistics/216793/fundraising-and-spending-in-us-presidential-elections/

[kessler49]

$1 billion is an obscene amount of money to be spending on this thing. Sure it's important. But isn't there a less-expensive way. Is that mostly for TV, anyone know? The conventions cost a lot, but I'm not sure they're even included in these figures. Here are these two guys talking about The Economy, and we're blowing very big bucks just to hear them talk. Must be a better way.

How to adjust that figure for inflation, too? I suppose some minuscule amounts were spent in the 1950s & 60s. I'd be curious to know what growth rate per election or per annum got us to the current figures.