Peter Overby

A "return on investment" is a concept better known to Wall Street than to Washington. But after President Obama and the Democrats won most of the close elections last week there are questions about the seven- and eight-figure "investments" made by dozens of conservative donors.

During the election season, it was pretty common to hear about donors making "investments" in superPACs and other outside groups, rather than a "political contribution," perhaps because the phrase has a sort of taint to it.

This presidential election attracted $1.5 billion in outside spending — TV ads, robocalls and other political activity by groups created to take advantage of the new rules of campaign finance law.

On the day after the voting, the track record of the groups, most of them conservative, is open to question.

Tuesday night was a rough one for Karl Rove. The GOP guru is the guiding light and chief fundraiser for the biggest outside spender: the twin groups American Crossroads and Crossroads GPS.

The battle to control the Senate was a proving ground for the new Citizens United politics. Outside groups unleashed heavily funded barrages of attack ads meant to help elect candidates while letting them keep their distance from the nastiness.

In Ohio and Virginia, the tactic failed in rather dramatic ways, as Republicans backed by secretly financed ads failed to beat seemingly vulnerable Democrats.

As relentlessly as the candidates have courted voters, they've also shown their love to donors.

A report by the Center for Responsive Politics places the total cost of the 2012 elections at an estimated $6 billion, which would make it the most expensive election in U.S. history

If you're using social media to follow the presidential campaign or even if you're related to someone else who's doing that, there's a good chance your cellphone got spammed Tuesday night with an anti-Obama text message.

The messages went out between 7:30 and 10 p.m. They were anonymous but quickly traced to a Republican consulting firm in Northern Virginia.

The Obama organization is expected to exceed $1 billion in fundraising, as the candidates, party committees and superPACs file their last disclosure reports before Election Day.

Transcript

ROBERT SIEGEL, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Robert Siegel.

MELISSA BLOCK, HOST:

And I'm Melissa Block. A low profile wing of Mitt Romney's presidential campaign has just reported raising a remarkable amount of money - $236 million in just the past few months. The report comes from Romney Victory, Incorporated, that's a joint fundraising committee that allows donors to give far more than the usual $5,000. Its limit is over $75,000 per person.