Pres. campaign spending up 80% from 2004

Total spending during the 2008 election was up 80% from 2004, the FEC announced yesterday.

In sum, candidates, parties, individuals, and other groups spent more than $1.8 billion during the campaign.

Obama raised $747 million, while McCain approached $350 million. The rest was spent by a combination of parties, “527” interest groups and individuals.

Obama, of course, was the first Presidential candidate to turn down federal matching funds during the general election. Both candidates turned down matching funds during their respective primaries.

One interesting tidbit: total spending by “individuals, parties and other groups” was down about $24 million from 2004. This is probably a result of the candidates doing a better job funneling contributions directly to their campaigns.

Click here for an overview of Presidential campaign spending from 1996-2008.