Its official: the 2004 presidential race is the most expensive in history, costing well over a billion dollars.
And to think, a lot of other countries just let the legislature pick their chief executives, which probably costs a lot less.
I think that approach would work fine if the composition of the legislature actually reflected the political will of the people. But without proportional representation, this is not the case.
Also, in the American system, the balance of the three branches of government would probably change because the chief executive would be selected by the other branch instead of being elected by the electoral college.