U.S. President Barack Obama as he arrives in Tampa (Photo : Reuters)
President Obama out-raised Mitt Romney $84.8 million to $66.6 million during August, according to reports by the Federal Elections Commission. Drawing from a formidable grassroots campaign, Obama has seen $441.3 million worth of donations, compared to Romney's $283.6 million. However, these statistics do not include super-political action committees and national political parties, which raised Romney's total war chest to $165 million at the beginning of September, edging out Obama's $101 million. When the presidential election's general election contest officially kicked off, Obama maintained a $33.4 million lead over the Romney campaign, coming in at $88.8 million
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The Democratic National Committee started raised $5.6 million in August, and took an additional $8 million loan out. The Republican National Committee raked in $35.6 million during the same month. By the start of September, the DNC had $7.1 million cash on hand, and the RNC had $76.6 million. However, not all of these funds are available to the presidential candidates, as a portion of the capital goes towards clinching state congressional seats in swing states. This year, the RNC has sent $15 million to state parties, and the DNC has sent $60.7 million.
In terms of political ads, Romney only spent $18 million of his campaign's funds, and was vastly outspent by the Obama campaign's $66 million investment.
Bill Allison, editorial director of the nonpartisan Sunlight Foundation, asserted:"Despite the surge that Romney had in the summer in terms of fundraising, you know, Barack Obama remains the king of fundraising."
With the presidential election quickly approaching, we will soon see which candidates' investment will provide a significant return.