Cashin’ Out: President Obama Drops $5 Million On Olympic Campaign Ads

While Mitt Romney is expected to be a spectator at this summer’s Olympic Games, those watching from home may see President Barack Obama, thanks to a large ad buy.

Obama’s reelection campaign has bought $5.5 million of U.S. national advertising time for the London games, a Republican ad buying source told CNN.

The time is on the networks of NBC, MSNBC, CNBC, Bravo, and NBC Sports Net, according to the source.

The New York Times was first to report the buy and that it was $5.5 million.

Obama and Sen. John McCain’s 2008 presidential campaigns each spent several million dollars advertizing during the 2008 Olympic games.

Source: CNN