It's maybe too early to completely write off Jeb Bush's struggling presidential campaign.
But it isn't too early to declare that the $35 million - and counting - that Bush and his allies have spent in TV ads since September might go down as the least effective advertising campaign in presidential history.
Consider: Despite that more than $35 million, spent mostly by the pro-Bush Super PAC Right to Rise, Bush's national poll numbers remain stuck in the single digits, with a recent national Monmouth poll showing him at just 3 percent.
What's more, Bush and his allies have spent a whopping $17 million in New Hampshire alone, but Bush is just in single digits there.
And they've spent $9 million in Iowa, yet Bush's favorable/unfavorable rating is upside down among GOP caucus-goers, according to the Des Moines Register/Bloomberg poll.
All told, the $35 million-plus that Bush and his allies have spent over the past three months-- with another $28 million on the way in future ads -- is nearly as much as the rest of the Republican field combined.
According to the ad-tracking data from SMG Delta, Bush's Right to Rise Super PAC so far has spent $34.6 million in TV ads, with the campaign chipping in almost another $1 million.
By comparison, the other Republican campaigns and Super PACs have spent $41 million - including $15.5 million from Team Rubio, $8.8 million from Team Kasich, $7.7 million from Team Christie and $2.8 million from Team Carson.
Donald Trump has spent just over $200,000 in advertising.
On the Democratic side, Hillary Clinton has spent $11.5 million (almost all from the campaign), while Bernie Sanders has spent $7.2 million (all from the campaign).
The biggest ad spenders so far (for TV and radio):
Team Bush: $35.6 million ($34.6M from Right to Rise Super PAC, $900K from campaign)
Team Rubio: $15.5 million ($8.7M from Conservative Solutions Project, $2.2M from Conservative Solutions PAC, $4.6 million from campaign)
Team Clinton: $11.5 million ($11.3M from campaign, $200K from Priorities USA Super PAC)
Team Kasich: $8.8 million (all from two outside groups)
Team Christie: $7.7 million ($7.3M from America Leads Super PAC, $400K from campaign)
Team Sanders: $7.2 million (all from campaign)
Team Carson: $2.8 million ($2.7M from campaign, $134K from 2016 Committee Super PAC)
Team Graham: $2.7 million ($2.5M from Security is Strength Super PAC, $170K from campaign)
Team Cruz: $1.2 million ($860K from campaign, rest from outside groups)
Team Fiorina: $1.0 million (all from CARLY For America Super PAC)
Team Paul: $960,000 ($837K from America's Liberty PAC, $125K from campaign)
Team Trump: $217,000 (all from campaign)
SOURCE: NBC/SMG Delta