An old axiom in politics states “money follows power.”

And in the 2012 election, money followed Republicans — big time.

Taking a page from the old Democratic playbook, Republican leaders say, they simply turned the tables, outraising and outspending Democrats in key districts. And they won big.

“They had all the money this time, and we had none,” said state Sen. Martin Nesbitt, D-Buncombe, who is also the minority leader in the Senate. “Our party is really going to have to come to grips with that. You can’t win races with a fifth or a third of the money.”

Statewide, Republicans nearly doubled Democratic fundraising, funneling the money to targeted races such as the Jim Davis-John Snow contest in the 50th Senate District, which encompasses far western mountain counties. Fourth-quarter campaign spending reports, which politicians had to file last week, show local Republicans heavily outspent Democrats in numerous races.