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Carl Cameron: Unions And Other Liberal Groups Will Spend $1 Billion

FOX News' Carl Cameron reports: When Obama advisers boasted a year ago that they were going to raise a billion dollars jaws dropped all over the country and they're not dropping anymore.

Under the new campaign rules, the really big money is actually going to something called independent expenditures. Those are the outside groups; Super PACs, etc. When Romney clinched the nomination just last night, this morning Planned Parenthood and its PAC immediately endorsed the president and ran up a $1.4 million attack ad on Romney for being pro-life in Florida and Iowa.

Big Labor says it is going to raise and spend about a half a billion dollars on the president's reelection. Other left-leaning special interest groups say they're going to pony up another half a billion. On the right, you have the Chamber of Commerce, Super PACs like Karl Rove's group, Crossroads America, and the benefit of the money from billionaires like the Koch brothers. You put all that together, you add in the gubernatorial races, the Congressional races, etc., we're looking at $4 to $5 billion in ads in the next five months.

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