What recession? During their race for the White House this year, President Obama and Mitt Romney spent a combined total of well over $2 billion, according to reports filed with the Federal Election Commission by the campaigns and party committees released on Thursday. The reports show that in the first election in which donors could give unlimited contributions, Obama’s reelection team spent $1.123 billion and Romney’s spent $1.019 billion. These figures do not include last-minute ads bought by wealthy mega-donors like Sheldon Adelson. The reports also show that Obama outraised Mitt Romney in the final stretch of the campaign—between October 18 and November 26, Obama’s reelection team raised $111 million compared to Romney’s $100 million.