That still leaves more than 55 million Americans who voted for the aging, outspent warrior, John McCain.
Obama has outspent McCain by a huge margin, according to CNN's consultant on ad spending.
Mr Romney and his supporters also vastly outspent his rivals, blitzing them with vicious advertisements.
In more than 60% of House districts, the winner outspent the loser by 10 to 1.
"They outspent the people against the proposal five-to-one on radio and television commercials, " he says.
By 1993 the team was still being outspent by the Toronto Blue Jays and Cincinnati Reds.
The Democratic candidate will not be able to match that, though he will probably not be outspent by much.
Downey outspent Lazio 5 to 1, but Lazio beat him 53% to 47%.
The Arizona system gave additional funds to candidates for certain state offices who were being heavily outspent by their privately funded opponents.
As usual the Conservatives way outspent Labour, with much of the money paying for the services of the advertising agency Saatchi and Saatchi.
Despite the fund-raising help, money remained an issue, and changing the focus of the campaign was hard for Moseley-Braun because Fitzgerald heavily outspent her.
The difference is that business groups have outspent unions by about ten-to-one and have inundated congressmen with visits and meetings in their own districts.
Outspent 15-to-1 in the recent Iowa and New Hampshire campaigns by the centimillionaire Mitt Romney, Mike Huckabee can't be blamed for playing the populist card.
He outspent Moore by a 20-to-1 margin and just barely won.
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After winning the campaign-opening Iowa caucuses, Huckabee had been outspent by Romney and McCain and had struggled to keep pace, failing to win another contest until Tuesday.
According to the Centre for Responsive Politics in Washington, the candidate who outspent his opponent emerged victorious in 95% of House races and 94% of Senate races.
Moreover, poorer candidates have won early primaries in the past, including Mike Huckabee, who triumphed in Iowa's Republican caucuses in 2008 despite being massively outspent by Mr Romney.
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The teachers' unions easily scuttled the last attempt to introduce vouchers in California, in 1993: opponents of vouchers outspent the proponents by a margin of ten to one.
Now a candidate can literally be outspent by independent groups.
In a series of emails sent to supporters, key members of his staff and even the President himself have declared that they are going to be outraised and outspent.
Obama has outspent McCain by a 2-to-1 margin in the state during the past two weeks, according to an estimate by TNSMI-Campaign Media Analysis Group, CNN's consultant on political advertising.
They were dramatically outspent, and lost as a result.
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Santorum is the first to point out Romney's huge advantage in money and organization in the campaign, noting how the former Massachusetts governor and his supporting super PAC have greatly outspent him.
Despite the defeat of the bill, GMO labeling advocates are calling the California campaign a victory given that it was outspent 5 to 1 and still managed to get over 4 million votes.
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Former Arkansas Gov. Mike Huckabee, whose upset win in Iowa came after being outspent by millions of dollars by Romney, passed former New York Mayor Rudy Giuliani to gain third place.
Former Arkansas Gov. Mike Huckabee -- whose upset win in Iowa came after being outspent by millions of dollars by Romney -- passed former New York Mayor Rudy Giuliani to gain third place.
Maryland cut seven sports programs earlier this year just to get under budget, and Rutgers recently outspent its revenue to the point that it required non-athletic funding from student fees and tuition to cover its losses.
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We see a team like City slip up and since we can't explain it the club has the highest salaries in the Premier League and outspent everyone in the past two season we attribute it to those mind games.
This imbalance has caused alarm among Democratic strategists, and Obama has warned perhaps with some exaggeration that, unless wealthy supporters make large gifts, he will become the only sitting President in recent history to be outspent in a campaign.
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