August 22, 2012–Republican Mitt Romney is winning the presidential campaign race for greenbacks. At the end of July, the conservative candidate had more money at hand than President Obama.
According to fundraising totals filed Monday with the Federal Election Commission, Romney had $186 million available, surpassing Obama’s $124 million. The figures include all donations made to the campaigns and respective party committees.
If the trend in donor activity holds, the president will have a clear disadvantage in the closing weeks of the 2012 election campaign.
Obama is not used to being second. In 2008 the president smashed all previous records by bringing in over a total of $750 million, clearly outpacing Senator John McCain.
However, this time around Mitt Romney has emerged as the new ‘king of cash’, particularly in the last two months. The Republican contender raised $200 million in June and July. In the same period, Obama’s fundraising efforts brought in $147 million.
More money typically means more votes for a candidate, and experts say the gap between donations will get wider. Romney’s totals have recently increased aided by the addition of Paul Ryan to the Republican ticket, his campaign staff said.
The bad news for Democrats don’t end there. The Republicans are also outspending them if Super PACs and other outside groups are included.
The Center for Responsive Politics is reporting that spending by conservative groups is about $221.5 million this cycle, compared to only $55.6 million by liberal groups.
With the Republican Convention starting next week in Tampa, republicans are confident their fundraising efforts will carry them well into Election Day. “We are now in a position to outspend [Democrats] on TV and tell our story,” Republican National Committee Chairman Reince Preibus said Monday.