Romney Winning Race for Campaign Donations
Republican presidential candidate Mitt Romney doubled his cash advantage during July over the Democrats and President Barack Obama. Obama spent large sums of money during July, while the Republicans conducted intense fund-raising during the month. That left Romney and his Republican National Committee with over $62 million more than the Democrats still in the bank when July ended.
During July, the president’s campaign, along with the Democratic National Committee spent over $91 million, which was much more than the $75 million that was raised by the Democrats during the same month. The money spent underscored the different investments in field staff and technology Obama made and the close to $40 million spent on advertisements in July.
Romney continued to hold onto most of his resources so they can be used in the fall. Romney spent less than $20 million during the month on advertising, but that was offset by the super PACs that support Romney and other groups that stepped up their advertising by spending millions on attacking the President.
At the end of July, the Republicans had over $186 million in the bank, while the Democrats held $124 million. Often times challengers are able to out raise the incumbent party, as the campaign nears its end. While Romney has outraised Obama of late, Obama raised much more than the former governor of Massachusetts did in 2011 and earlier in the year.
What is extraordinary is that Romney’s campaign was able to haul in over $200 million during June and July, which means that Obama will not have the cash advantage following his national convention, as he enjoyed in 2008.