by InvestorPlace Staff | August 6, 2012 2:35 pm
Republican presidential nominee Mitt Romney continues to outpace President Barack Obama in fundraising, raising over $100 million for the second straight month in July.
Romney’s campaign, the Republican National Committee, and a committee comprised of several state-level Republican party organizations raised $101.3 million in July, just short of the record $106.1 million raised in June. They ended July with $185.9 million cash in hand, up from the $160 million war chest they had at the end of June.
For the third straight month, Obama was beaten in fundraising by Romney. In July, his campaign brought in $75 million, a $4 million improvement over June but not enough to catch up to Romney.
With Romney bringing in more money, and with super PACs piling on the pressure, the Obama campaign has begun spending aggressively on advertising and other campaign efforts — nearly $2 million a day in June. This appears to be an attempt to head off Romney early before he gain too much momentum, and hopefully swing donations back in his favor.
The risk with this strategy is leaving the campaign coffers empty for the final push in November. Obama clearly feels, however, that he has to be aggressive to counter Romney’s fundraising muscle.
– Benjamin Nanamaker, InvestorPlace Money & Politics Editor
The opinions contained in this column are solely those of the writer.
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