Last week, the media reported that the joint fundraising effort between Team Romney and the RNC had raised $100 million, a new Republican record. That report was apparently unofficial — and slightly inaccurate. They actually raised a bit more than reported:
The $106.1 million total includes money raised for Romney’s campaign, the Republican National Committee and a joint fundraising operation (“Romney Victory”) between the two entities. The three of them combined have $160 million cash on hand.
“This month’s fundraising is a statement from voters that they want a change of direction in Washington,” said Romney Victory national finance chairman Spencer Zwick. “Voters of all stripes – Republicans, independents and Democrats – have made it clear that President Obama has not lived up to the promises of his last campaign.”
According to Politico’s Morning Blast, 94% of all June donations were $250 or less, accounting for $22.3 million of that total. The total number of small donors in June was more than a half-million — 563,729. Impressive.
That would indicate that the burn rate for Team Romney/RNC is better than Team Obama, which outspent its fundraising in May. However, that’s a little deceptive at this stage, thanks to the one-year head start Barack Obama and his campaign have in this race. They spent that year building the ground organization they need for the general election, so cash on hand may not be as critical a measure as it is for Romney, at least not over the summer. They can afford to spend a little more than they take in for a short period of time — assuming, of course, that they can ramp up their fundraising effort after Labor Day.
So far, though, we’re not really seeing any indication of that, and Romney keeps getting stronger, but that could change, too. Team Obama/DNC haven’t yet released their figures for June. If they didn’t keep pace with the GOP, one might have expected those numbers out over the weekend, when the news cycle for the week would have consigned them to relative oblivion. We’ll see whether Obama has become more competitive soon.