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GOP groups take stock after $380 million loss

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Posted: Nov 8, 2012 3:15 PM
Source: Associated Press

  Rating: 5.0 (1 vote)

Topics: washington, republican, independent, groups, PAC, money, fundraising, donors, Obama, president, loss, victory, romney, democrat

WASHINGTON - Republican-leaning independent groups were supposed to be a key to victory for Mitt Romney. But they ended up being among the big losers of the presidential race, spending an eye-popping $380 million on ads to oust President Barack Obama only to come up short.

The groups were unleashed by a Supreme Court decision that allowed wealthy individuals and corporations to spend freely to influence elections.

The Republican losses from the top of the ticket on down is forcing the groups' leaders to re-examine their strategy and determine how best to spend their donors' money.

Among those feeling the sting of defeat are American Crossroads and its nonprofit arm, Crossroads GPS. They spent $180 million on ads to oust Obama.

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