And today is election day in many parts of the country. Voters in New Jersey and Virginia will be electing a new governor. In New York City, the mayoral race has pitted Mayor Michael Bloomberg against Fernando Ferrer. All three races have seen record amounts spent on the campaign. In New York, Bloomberg has shattered campaign finance records in a non-presidential-race by spending up to $100 million on his re-election–ten times what Ferrer has spent. In New Jersey gubernatorial candidates U.S. Senator Jon Corzine and Republican Doug Forrester have spent a combined $70 million making it the priciest campaign in state history. And in Virginia Republican Jerry Kilgore and Democrat Tim Kaine have spent a record $40 million. Voters will also be electing mayors in Atlanta, Boston, Detroit, Houston, Miami, Minneapolis, San Diego, Seattle and other cities. And in California, voters will decide the fate of several ballot initiatives backed by Governor Arnold Schwarzenegger. The initiatives deal with teacher tenure, union dues, budget cuts and the state legislature’s power to draw political boundaries.