Indiana’s 2012 election cycle has highlighted a truism in politics: Money matters.
Indiana’s gubernatorial races have always been pricey battles, edging above $31 million in combined spending in 2004.
But Indiana’s Senate race joined the governor’s race in the stratosphere this year through a combination of surprising vulnerability from the once-untouchable U.S. Sen. Richard Lugar and new campaign finance rules, fought for by Terre Haute lawyer Jim Bopp, which this year opened a flood of outside spending in even the most marginally competitive races.
At the end of last week, roughly $10 million had been spent on air in the Senate battle. Add in the roughly $6 million spent by Lugar, state Treasurer Richard Mourdock and the many outside groups which fought on either side in the Republican primary and the new spending total hits $16 million.
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