WASHINGTON (CNN) -- Former Massachusetts Gov. Mitt Romney's decision to begin advertising at such an early stage of his presidential campaign signals the 2008 race for the White House will be the most expensive ever.

"Television advertising should exceed $800 million dollars all said and done," said Evan Tracey of TNSMI/Campaign Media Analysis Group, CNN's consultant on television advertising spending. "It could even approach a billion dollars if enough of the first tier candidates can raise and spend that money."

Romney began airing ads in five states Wednesday, the first top tier presidential candidate to make a major ad buy.

"Groups are going to be very active and parties are going to be very active, making this the longest from an advertising perspective and the most expensive from an advertising perspective campaign that we've ever seen," Tracey added.

The projected television advertising total of between $800 million and $1 billion dollars will easily exceed the $740 million dollars spent in the 2004 race for the White House.

Adding the cost of television advertising for the upcoming congressional campaigns, Tracey said the 2008 election cycle may surpass the $2 billion dollar mark.