FOCUS ON IOWA: Obama Campaign Spending

The battle for Iowa’s electoral votes this November is already getting expensive.

Polls show President Obama and Mitt Romney running neck-and-neck in Iowa and it’s playing out on the airwaves as campaigns spend cash to pay for ads.

Pundits say Iowa will play a bigger role in the election than anyone predicted.

President Obama’s campaign is now spending more money per capita in Iowa than anywhere else.

But for the first time, Mitt Romney’s now in the lead in the state by one point. That’s according to the average of all polls at realclearpolitics.com.

Some experts say it’s also personal for the president, working to win the state that gave him a huge boost in 2008.  

“He’s very vulnerable in keeping Iowa on his slate and I think that’s why you’re seeing Governor Romney actively campaigning here so hard,” says GOP consultant Brian Dumas.

About half-a-billion dollars in presidential campaign ads will likely hit the airwaves from coast-to-coast through November.