Republican presidential candidate Jeb Bush waits to speak at the RedState Gathering in Atlanta, Ga., on Aug. 8, 2015.
Photo by Mark Peterson/Redux for MSNBC

Jeb Bush’s $35 million: The least effective TV ad campaign in presidential history?

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.

RELATED: Team Jeb’s return on investment couldn’t be much worse

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.

The presidential campaign: Jeb Bush
At the start of the Republican presidential primary race, former Florida governor Jeb Bush was widely viewed as the establishment candidate to beat.

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).

RELATED: Jeb Bush: Trump is ‘the other version’ of Barack Obama

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

This article first appeared on NBCNews.com

Election 2016 and Jeb Bush

Jeb Bush's $35 million: The least effective TV ad campaign in presidential history?