WASHINGTON – President Barack Obama and Mitt Romney shattered spending records during their 2012 campaigns, eclipsing $2 billion in fundraising, the campaigns disclosed Thursday.

Obama, who surpassed $1 billion in mid-October, added $111 million to his campaign and affiliated committees in the final 2 ½ weeks of the campaign, according to a campaign official. In all, the president raised $1.1 billion for his re-election effort.

Romney’s final money push in that same period netted him more than $89.5 million – enough to nudge him past the billion-dollar mark as well. His total fundraising for the cycle was $1.01 billion.