This is the first time that candidates for the White House have raised and spent more than $1 billion, and this year's total is on track to nearly double candidate fundraising in 2004 and triple of 2000.
The overall estimated cost of the 2008 election would represent a 27 percent increase over the 2004 cycle.
Image: Republican presidential candidate John McCain and his wife Cindy wave to supporters after a campaign rally at the airport in Moon Township, Pennsylvania. | Photograph: Robyn Beck/AFP/Getty Images
Also read: US job market at its worst in 15 years
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