Obama’s campaign raised $13 million more than presumptive Republican nomineein the month of June. However, attacks on his rival cost the president more money than his campaign took in the same month.
President Barack Obama’s campaign announced raising $46 million in June, beating Romney, whose campaign was able to raise just $33 million - about one third of what the Republicans boasted raising last month.
While the President appeared to be getting back on track in terms of campaign funds, his team spent more than it took in. Out of a total of $58 million spent in June, a major chunk went to making television ads that criticized Romney and bolstered the president, according to a report by MSN News.
Similarly, the largest single expense by Mitt Romney concentrated on his advertising efforts. However, he doubled his spending in June as compared to the previous month.
“President Obama’s campaign will never have a more substantial advertising advantage than it has had over the past few weeks, yet there is no evidence to suggest that the ballot has moved,” Romney’s pollster, Neil Newhouse, said in a July 16 memo, as reported by Bloomberg.
After June’s fundraising by both the parties, Obama’s campaign raised a total of $307 million, while $156 million was raised by Romney’s campaign.
While Romney refused to disclose the identities of his top fundraisers called “budlers”, Obama released an updated list that had 60 new names of those who had helped the campaign raise more than $500,000. Employees of Microsoft Corp. and Google Inc. are among the top four contributors to Obama’s campaign to date, according to the computer-generated Federal Election Commission data.
Some big contributors have helped Romney come at par with the Democrats, if not in an outright advantageous position. Nonetheless, his lead with the super PAC’s will allow him to retain his strong position in the months that follow. American Cross Roads, Restore Our Future and similar groups have backed Romney’s campaign by spending millions of dollars on ads to attack the president.
While Romney’s financial reports show that he has raised huge amounts in key states like Florida, Michigan and New Hampshire, both candidates are enjoying huge contributions from all 50 states and District of Columbia.