Campaign Spending Down in 2012

That's a headline you won't see lots of places.

John Samples gives Some Perspective on Campaign Spending in 2012

[C]ampaign spending in 2012 seems likely to shrink as a share of overall national wealth compared to 2008. That conclusion is compatible with spending rising to record in absolute dollars. Indeed, spending is likely to set such records in every presidential election unless the economy contracts over a four year period.

Amid all the complaints about “record spending” shouldn’t at least one person in the media point out that campaign spending is lower, maybe much lower, than history would have led us to expect?