It is believed that the 2008 U.S. presidential race will be “the most expensive election in American history. The estimated expenditure is close to $1 billion. A candidate who is serious about his or her presidential bid is expected to raise at least $100 million by the end of 2007.

The 2008 race for US President will be the first time in 80 years that both major parties will have open contests for the Presidential nomination without a sitting President or Vice President in the running. Candidates for the 2008 election began to emerge during 2006. In 2007, fundraising began in …