Aaron Blake reports that Might Romney might have just passed Barack Obama in the dash for campaign cash, capping off a remarkably lucrative three months.
President Obama’s campaign spent heavily in June, including $38 million on ads, and appears likely to have less cash for the fall campaign than Mitt Romney.
And if Romney has indeed passed the president, he will have erased a $90 million deficit in just three months’ time.
Obama’s campaign raised $46 million in June, including a $17 million transfer from a joint fundraising committee with the Democratic National Committee, but it spent $58 million and saw its cash on hand fall to $97.5 million.
That $97.5 million figure is far more than Romney’s official campaign had at the end of June. Romney’s campaign raised $33 million, including an $8.6 million transfer from its joint committee with the Republican National Committee, and spent $27.5 million, to leave it with $22.5 million cash on hand.
But the Romney campaign is stashing huge reserves in its joint fundraising committee — nearly $58 million — and the Republican National Committee has nearly $90 million on hand, meaning that between the three, the Romney effort has about $170 million in cash.