Washington: The Obama Campaign, Democratic Party along with their joint fundraising group Obama Victory have now collectively raised more than a billion dollar mark this election cycle, setting a new fund raising record in the country's electoral history.

According to latest available figure, the Obama campaign has raised a record USD 1.037 billion. This is for the first time that any presidential candidate has raised more than a billion dollar in an election cycle.

According to FEC data compiled by the non-partisan Campaign Finance Institute, Romney campaign has raised USD 950.7 million.

On Wednesday, Romney Campaign announced that it has raised USD 111.8 million in the first two weeks of October, while the Obama Campaign trailed behind with USD 90.5 million during the same period.

Political analysts are expecting that more than USD 2 billion would be spent in 2012 presidential election, thus making it one of the costliest presidential elections ever.

Till the end of September both groups had brought in USD 1.5 billion.


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