It's no secret that President Barack Obama's 2008 election campaign broke records when it came to fundraising.

According to reports, the campaign raised more than $745 million.

And, while it looks like the 2012 campaign will collect somewhere near the same amount in donations, the effort to re-elect POTUS will most likely be the first-ever incumbent presidential campaign to be outspent by its political rivals.

In a super-secret, reveal-no-names meeting between campaign officials and reporters, Obama camp insiders expressed the belief that their budget will be minuscule in comparison to the amount spent to defeat Obama. 

Oh, and it's not just because Mitt Romney raised some serious bank last month. No, it seems that thanks to the Citizens United ruling, President Obama faces a ton of independent groups that will be spending their own cash in addition to Mitt to win in the election for the Republicans.

So, just how much moolah will the opponents of POTUS be spending in total against him? Obama campaign advisors estimate it will be more than $1 billion.

Yeah, that's right. A billion dollars. Billion ... with a B.