Oct. 31 - A record $6 billion has been spent on TV ads in Campaign 2012, according to a new study led by Super PAC cash. Sasha Salama reports.
In this final week of what's become a deadlocked race for the White House, one thing is clear. Both candidates are spending billions on TV ads, more than ever before. SOUNDBITE: U.S. PRESIDENT BARACK OBAMA (ENGLISH) SAYING: "You've seen months of campaigning, way too many TV ads. I know you guys are sick of the TV ads." Even though the President, and Republican challenger Mitt Romney, have slowed their campaigning in the wake of Hurricane Sandy, spending on TV ads has never been stronger. The Wesleyan Media Project, which tracks all TV ads from federal and state candidates, says it expects their total cost to top an unprecedented $6 billion. Much of that money is coming from political action committees, called Super PACs, which have no fundraising limits, unlike the campaigns themselves. Club for Growth President Chris Chocola: SOUNDBITE: CLUB FOR GROWTH PRESIDENT CHRIS CHOCOLA (ENGLISH) SAYING: "Most Super-PACs are a combination of some large donors but thousands of smaller donors." Among some higher profile donors: Dreamworks CEO Jeffrey Katzenberg has donated $3 million dollars to a Pro-Obama Super Pac, Casino magnate Sheldon Adelson and his wife have donated $10 million to a Pro-Romney Super Pac. Their donations often are funneled into the production of TV and internet campaign ads that are almost always negative. And that's a turnoff says Virginia resident Elizabeth Perry. SOUNDBITE: VIRGINIA RESIDENT ELIZABETH PERRY (ENGLISH) SAYING: "I have gotten to the point where I don't really pay attention to them. It's kind of an overkill." More than $6 billion of overkill - a figure that 's greater than the gross domestic product of 40 nations around the world.