Candidates may spend $1 billion

According to a Washington Post editorial, "The two major--party nominees alone may raise and spend $1 billion combined." is it just me or does this seem a bit excessive and ridiculous?

I realize that each campaign cycle, campaigns spend more and more money. But when is this going to end? I am taking a class called Foundations of Mass Communication with Tim Gibson, where we read an article entitled The People's Choice that was written in 1948 by Paul Lazarsfeld that studied the voting patterns of people. In it, the scholars determined that people generally do not change their political opinion based on media and advertising, instead relying on peers whom they trust.

I understand that the study was not full proof, and flaws have been pointed out, but the premise remains the same today as it did previously. Those who are already paying attention to the campaigns have already made up their mind. The eggregious spending that is occuring is keeping current senators from doing their job, because they have to spend the majority of their time fund-raising.

This system of campaigning we have in America is flawed, and needs to be fixed. And we haven't even gotten into the smear campaigns that are sure to come.