Mitt Romney expanded his financial advantage over President Obama in May, outraising the Obama campaign by nearly $17 million, taking in $76.8 million to the president's $60 million haul. Although President Obama has raised more for his official campaign and affiliated Democratic Party committees than Romney has for his own official committees, Romney's deep-pocketed Super PACs have given him an overall cash advantage. Last month, Politico's Ken Vogel reported that while Romney and his outside group allies had raised $402 million, Obama and his outside group allies had raised $340 million. Combined with last month's fundraising report, those figures put the lie to the Republican-fueled myth that President Obama has an edge over Romney when it comes to campaign cash.
Romney's campaign said he had $107 million cash-on-hand. Last month, President Obama had $115 million cash-on-hand, so unless he spent more than he took in, Obama should continue to have more money actually available to his campaign'for the moment. Factoring in the independent groups, however, Romney and his allies will have more cash.
Fortunately for the Obama reelection effort, the president's campaign is hurting for cash'his May numbers were up by nearly 50 percent over April's'but no matter what Republicans might claim, he will not be able to buy this campaign by outraising his opponent. Only Mitt Romney will be able to do that.
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