Campaign Funds, Super Pac | featured news

'Super PACs' and others are cementing their status as permanent fixtures in the political firmament, with resources that rival those of the official parties.

Have conservative groups bungled their chance to help defeat Barack Obama? Fueled with tens of millions of dollars in unlimited contributions, a network of GOP super PACs and nonprofit groups began the year with heady talk of bringing down President Obama with a ceaseless barrage of attack ads.

Billionaire financier George Soros has given $1 million to the primary super PAC helping President Obama. The funding is a boost to Priorities USA Action in the final weeks of the campaign.

A month and a half before Election Day, President Obama is winning, former President Bill Clinton said Sunday, citing a raft of recent polls that show Obama widening a lead in several key swing states.

Americans don't like all the cash that's going to super political action committees and other outside groups that are pouring millions of dollars into races for president and Congress.

A little more than a year ago, Frank VanderSloot contributed $1million to a "super PAC" supporting Mitt Romney. Now, the Idaho-based health products executive is a sought-after donor at the Republican National Convention as he makes the rounds of independent groups backing the GOP ticket.

Candidates may raise the unprecedented sums of political cash being funneled through Super PACs this year, and media strategists may decide how to spend them – but the people who actually wind up pocketing much of the money are America's television broadcasters. Since the Supreme Court voided limits on political donations in Citizens United, more money than ever is being devoted to negative TV ads. Industry analysts predict that upwards of $3 billion will be spent on political advertising this year – a surge of more than $500 million over 2008.

Morgan Freeman donated $1 million last month to Priorities USA Action, the main super PAC supporting President Obama.

Senate Republicans blocked Democratic-backed legislation requiring organizations pouring hundreds of millions of dollars into campaign ads to disclose their top donors and the amounts they spend.

The Obama campaign on Tuesday shrugged off reports showing that Republican challenger Mitt Romney outpaced the president by $35 million in contributions last month, even after firing off a dire message to donors warning of defeat in November if fundraising doesn’t improve... Obama representatives also blasted the Republican super PACs. “You’ve got a few very wealthy people running around trying to purchase the White House for Mr. Romney,” White House senior adviser David Plouffe told ABC’s “Good Morning America” on Tuesday.