What is the cost of running for president of the United States?

Watch What is the cost of running for president of the United States? - The Independent on Dailymotion

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00:00How much does it cost to become president?

00:02A mind-boggling amount, that's how much.

00:04During Joe Biden's 2020 presidential race,

00:06the Democrats spent over $1.6 billion on his campaign,

00:10while President Trump only just broke the $1 billion mark.

00:14The amount of money spent on presidential elections

00:16has dramatically increased in recent cycles.

00:19Back in 2016, Trump spent $422 million,

00:23less than half his 2020 figure,

00:25and the 2024 election is slated to be the most costly in history.

00:29This big-ticket spending started after the 2010

00:32Supreme Court Citizens United decision,

00:35which effectively opened the door to unlimited,

00:38independent spending in federal elections.

00:40Most of that new money is being spent on advertising,

00:43as well as other campaign costs,

00:44like salaries, fundraising, and voter contact.

00:47Kamala Harris' campaign has reportedly spent

00:49twice as much on advertising compared to Trump,

00:52more than $650 million since March.

00:55Unlike congressional races,

00:57where whoever spends more tends to win,

00:59presidential elections are more complex.

01:02Economic conditions and major events

01:04can outweigh being the biggest spender.

01:06In 2016, for example,

01:08Trump beat Hillary Clinton despite spending considerably less.

01:12Total expenditure increases dramatically

01:14as Election Day approaches.

01:15From now until November 5th,

01:17both candidates will frantically shop

01:19until one of them drops.