Money does not guarantee victory, but it does show Republicans are highly motivated this year to vote Barack Obama out of office. The GOP was not highly motivated in 2008. But if June’s fundraising is any indication, it does not appear Romney will lose, if he does, because of a lack of funds:
POLITICO: The Romney campaign, along with its Romney Victory fund and the Republican National Committee, raised more than $100 million in June, obliterating the campaign’s goal and setting the one-month record for any Republican campaign, according to a GOP official.
Now-President Barack Obama raised $150 million as he was surging in September 2008, the record month for any campaign.
The Romney campaign outraised Obama in May — taking in $77 million, compared with $60 million for the Obama campaign and the Democratic National Committee.
The Romney campaign says much of the June haul came from new donors, with states from coast to coast out-performing their targets. . . . Read More
If Obama wins re-election, as he certainly still could since nearly half the country is dependent on the Federal Government in some way, he will have to do it this time with much lower enthusiasm for his candidacy, and now, it appears, without his customary gigantic money advantage:
WASHINGTON POST – Chris Cillizza: “. . . What’s abundantly clear is that Obama won’t have the massive fundraising gap over Romney that he enjoyed in the 2008 contest against Sen. John McCain of Arizona.
In that race, Obama raised an astonishing $771 million while McCain brought in $239 million — a total that included roughly $85 million in public financing funds for the general election. (Obama opted out of public financing.) For you non-math majors out there, that means Obama collected (and spent) three times as much money as McCain, a huge gap that almost certainly put the Democrat over the top in places such as Indiana and North Carolina and cushioned his margins in other swing states such as Florida and Ohio.
There is a zero percent chance that Romney will follow McCain’s lead and take public financing. And even though he has spent most of this election cycle running in a competitive and splintered GOP primary, Romney raised almost $100 million through April. . . .
Add it all up — and throw in a pledge from the leading conservative super PAC to spend better than $200 million— and it becomes possible that Obama, the single greatest fundraiser in the history of American politics, might get outraised (and outspent) between now and Nov. 6. . . .
“It is entirely possible that Romney and the RNC could outraise the president and the DNC,” acknowledged Steve Rosenthal, a veteran labor strategist. “When you add to that the avalanche of money pouring into the right-wing super PACs, and the fact that polls are already showing a close race in most of the battleground states, it creates a troublesome scenario. . . . Read More
Gov. Mitt Romney’s Campaign reports that they raised over $10 million today in a “Phone-a-thon” at the Las Vegas Convention Center:
WASHINGTON WIRE: Mitt Romney hit the jackpot in Las Vegas on Monday, raising more than $10 million for his presidential bid in a one-day call-a-thon that offered the clearest evidence yet that the former Massachusetts governor will have more money to spend on the Republican presidential nomination than any of his rivals.
The one-day total, which was provided by the Romney campaign, could dwarf the amounts some of his rivals raise all year. Many Republicans expect Mr. Romney to raise more than $40 million by the end of June, possibly tripling or quadrupling the amount of money raised by his closest competitor.
The former Massachusetts governor and his finance team spent months organizing the Monday event at the Las Vegas Convention Center in which an estimated 800 Romney supporters called friends, family and business associates to raise money. The campaign immediately seized on the figure as a sign of support for Mr. Romney. . . . Read More
Money will not be a problem for Mitt.