Mitt Romney opens up big cash lead, Barack Obama may be the president, but the guy who wants his job has more money in the bank. Mitt Romney’s campaign operation boasts nearly $186 million in reserve through July, according to campaign estimates and federal filings released Monday.
That’s more than $62 million more than the $124 million Obama’s full operation — his campaign committee, the Democratic National Committee and a joint committee called the Obama Victory Fund — reported through July.
None of that includes Romney’s massive advantage when it comes to outside political groups such as super PACs and politically active nonprofits. During the first half of August, for example, the largest pro-Romney organizations outspent the main super PAC supporting Obama, Priorities USA Action, by a more than 8-to-1 margin.
Romney’s side has again outraised Obama’s in July — roughly $101 million to $75 million. And the announcement of Rep. Paul Ryan of Wisconsin as Romney’s vice-presidential running mate de helped raise millions more this month, campaign officials say.
It’s a gap the Romney camp is relishing as it heads to next week’s Republican National Convention and beyond, even if Obama, who four years ago raised more money than any presidential candidate in U.S. history, still enjoys modest leads in most national and swing state polls.
“Gov. Romney will have the resources needed to run a vigorous fall campaign and force the president [to] compete in states that he never thought he would need to defend,” campaign spokesman Ryan Williams tells POLITICO.
Obama’s campaign has been managing fundraising expectations of late, repeatedly saying it expects to be beat in the cash race. But spokesman Ben LaBolt says Obama’s “unparalleled ground organization” could provide him with “the decisive edge.”
Romney’s joint fundraising committee, Romney Victory, reports its finances on a quarterly basis and had $57.7 million on hand as of June 30. Obama’s joint fundraising committee, in contrast, reports monthly, and had $20.6 million on hand as of July 30.
This makes an exact comparison between the two sides precarious.
But this much is certain:
* Speaking strictly about campaign committees, Romney’s campaign raised $40.3 million in July and spent $32.6 million, ending July with a net gain and $30.2 million in the bank. Obama’s campaign raised $49 million but spent nearly $59 million, ending the month with $87.7 million and a net loss.
* Obama’s campaign in July raised more than it did in June ($45.9 million), May ($39.1 million) or April ($25.7 million.). Romney’s campaign also had a July that easily exceeded its fundraising totals from June ($33 million), May ($23.4 million) and April ($11.7 million).
* Romney’s combined campaign operation, however, retains the overall cash-on-hand lead on the strength of party and joint fundraising committee cash. The Democratic National Committee raised less than $10 million in July while spending about $32 million and ending the month with $15.4 million left. It also reported $4.57 million in debt. The Republican National Committee, in contrast, raised $37.9 million and spent $38.6 million in July with $88.7 million still in the committee’s reserves — not quite six times more than the DNC. It reported $9.9 million in debt.
* The Romney campaign’s top expenditures in July include placed media and media production ($16.4 million), payroll ($2.1 million) and travel ($1.7 million). While campaigns are not required to list expenditures is a standardized way, the Obama campaign appeared to spend significantly more money on media — a reported $39.27 million — in July.
That’s more than $62 million more than the $124 million Obama’s full operation — his campaign committee, the Democratic National Committee and a joint committee called the Obama Victory Fund — reported through July.
None of that includes Romney’s massive advantage when it comes to outside political groups such as super PACs and politically active nonprofits. During the first half of August, for example, the largest pro-Romney organizations outspent the main super PAC supporting Obama, Priorities USA Action, by a more than 8-to-1 margin.
Romney’s side has again outraised Obama’s in July — roughly $101 million to $75 million. And the announcement of Rep. Paul Ryan of Wisconsin as Romney’s vice-presidential running mate de helped raise millions more this month, campaign officials say.
It’s a gap the Romney camp is relishing as it heads to next week’s Republican National Convention and beyond, even if Obama, who four years ago raised more money than any presidential candidate in U.S. history, still enjoys modest leads in most national and swing state polls.
“Gov. Romney will have the resources needed to run a vigorous fall campaign and force the president [to] compete in states that he never thought he would need to defend,” campaign spokesman Ryan Williams tells POLITICO.
Obama’s campaign has been managing fundraising expectations of late, repeatedly saying it expects to be beat in the cash race. But spokesman Ben LaBolt says Obama’s “unparalleled ground organization” could provide him with “the decisive edge.”
Romney’s joint fundraising committee, Romney Victory, reports its finances on a quarterly basis and had $57.7 million on hand as of June 30. Obama’s joint fundraising committee, in contrast, reports monthly, and had $20.6 million on hand as of July 30.
This makes an exact comparison between the two sides precarious.
But this much is certain:
* Speaking strictly about campaign committees, Romney’s campaign raised $40.3 million in July and spent $32.6 million, ending July with a net gain and $30.2 million in the bank. Obama’s campaign raised $49 million but spent nearly $59 million, ending the month with $87.7 million and a net loss.
* Obama’s campaign in July raised more than it did in June ($45.9 million), May ($39.1 million) or April ($25.7 million.). Romney’s campaign also had a July that easily exceeded its fundraising totals from June ($33 million), May ($23.4 million) and April ($11.7 million).
* Romney’s combined campaign operation, however, retains the overall cash-on-hand lead on the strength of party and joint fundraising committee cash. The Democratic National Committee raised less than $10 million in July while spending about $32 million and ending the month with $15.4 million left. It also reported $4.57 million in debt. The Republican National Committee, in contrast, raised $37.9 million and spent $38.6 million in July with $88.7 million still in the committee’s reserves — not quite six times more than the DNC. It reported $9.9 million in debt.
* The Romney campaign’s top expenditures in July include placed media and media production ($16.4 million), payroll ($2.1 million) and travel ($1.7 million). While campaigns are not required to list expenditures is a standardized way, the Obama campaign appeared to spend significantly more money on media — a reported $39.27 million — in July.