Oh my: Romney’s cash advantage over Obama grows to more than $60 million

posted at 9:32 pm on August 20, 2012 by Allahpundit

Jay Cost calls this the biggest news of the day. It’s not just the raw numbers that are significant, it’s how Romney’s building his advantage: Obama’s campaign is dumping money into attack ads this summer trying to tear Mitt down before he can build himself up at the convention. Per Politico, The One’s endless fundraising efforts raised $49 million last month — while the campaign spent $59 million. Result: A national lead of less than three points bought at the price of a large, and growing, money advantage for the GOP in the fall.

I’ll quote a bit from the WaPo piece but you’re better off following the link and looking at the graph. The trend is as clear as a bell.

Mitt Romney extended his cash edge over President Obama in July and entered the final three-plus months of the campaign with about 50 percent more in the bank than the incumbent president.

Romney led Obama in cash on hand at the end of July $185.9 million to $123.7 million, according to numbers released by the Romney campaign and filed with the FEC by Obama’s campaign…

Reports filed Monday, though, show Obama’s campaign and the Democratic National Committee continued to spend more than they brought in in July and saw their cash on hand fall by about $20 million combined.

In theory there’s going to come a “panic point” for Democratic donors where they start taking Romney seriously as a genuine threat to beat O, and that’s when the wallets will finally open. How far behind can they afford to fall, though, before they can’t realistically make up the difference? Remember, the numbers above don’t even include Super PAC money, where the GOP is heavily favored. I used to scoff at the thought that a guy who had his own money machine in 2008 could possibly be outspent this time, but … yeah, seems like that really could happen. If he wins a second term while being outgunned financially and staggering under the weight of the Obama economy, that’d be one of the most astounding electoral achievements in modern U.S. history.

Exit question: How much better would O’s fundraising be if he wasn’t, er, deliberately limiting the crowd size at his rallies?


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Reserve that U-Haul, Zero. Moving day is approaching.

Philly on August 20, 2012 at 10:17 PM

MeanWhile AxleBrokenRod Blows a Fuze!!

Obama Campaign This Time Around: Brutal… And Purposely So
Updated: August 20, 2012 | 3:49 p.m.
August 20, 2012 | 12:00 p.m.
============================

Additionally, Obama’s team knows it’s been taking flak for months from Romney’s allies in the super PAC community and makes no apologies for hitting back with a vengeance at Romney,

whom many Obama senior advisers believe weeps crocodile tears over campaign rhetoric while leaving the toughest attacks to super PAC allies.

While it’s true Obama has spent more head-to-head than Romney
($85.3 million to $50.3 million,
********************************

largely because Romney can only spend general election donations after the convention), the pro-Romney and pro-GOP super PACS have tilted overall spending in Romney’s favor ($168.5 million for Romney

to $102.7 million for Obama, according to the Campaign Media Analysis Group).

“Campaign to campaign [spending] doesn’t mean s***,” Axelrod said.
******************************************************************
*******************************************************************

“What matters
*************

is gross spending.
******************

I said a long time ago

that they’ve contracted their hits out to contract hit men.”
************************************************************
************************************************************
(more…)
=========

http://www.nationaljournal.com/politics/obama-campaign-this-time-around-brutal-and-purposely-so-20120820

canopfor on August 20, 2012 at 10:17 PM

He’s running his campaign like he’s running this country – at a deficit and into the ground. Sayonara, Soetoro.

Philly on August 20, 2012 at 10:18 PM

We overcame a Civil War and much worse than Obama…

mnjg on August 20, 2012 at 10:00 PM

Obama is not the problem. What Pelosi and OWS and the voters who can ignore OWS want is the problem. I will not be part of a communist nation, and I ain’t keen on moving.

harlekwin15 on August 20, 2012 at 10:04 PM

That’s the thing… when the civil war ended, one side won and the other surrendered. They signed some documents, lay down their weapons, and returned home to begin life again. If Romney wins, OWS, Code Pink, Pelosi, and all are not giving up and going home. They are going to dig more trenches and keep firing away. However, I’m hopeful that Romney/Ryan can turn the economy around and make headway in bringing the country back together. In the long run, we can hope things will get better, but I suspect it will be a long while.

behiker on August 20, 2012 at 10:19 PM

In theory there’s going to come a “panic point” for Democratic donors where they start taking Romney seriously as a genuine threat to beat O, and that’s when the wallets will finally open.

There will be a “panic point” all right, however, it won’t be
with Democrat donors – it will be with socialist donors only.

Any thinking Democrat wants Obama out of office as badly as
repubs do.

Amjean on August 20, 2012 at 10:21 PM

He means Olympia Snowejob, people.

Lanceman on August 20, 2012 at 10:12 PM

Olympia Snowejob is retiring, but the idea is the same. Someone will convince him/herself that “the health care reform law is a part of our lives now, and we shouldn’t upset people’s lives by repealing it.”

KingGold on August 20, 2012 at 10:22 PM

Tonight’s report:
Got the Nationals game on the TV tonight. No political ads so far.

22044 on August 20, 2012 at 10:22 PM

I think SCOAMF is a euphemism for black Chicago Jesus, Bayam.

Lanceman on August 20, 2012 at 10:08 PM

correct….

well Chicago Je$u$ anyway….

hey Buy’em how’s that rising of the oceans coming along?

harlekwin15 on August 20, 2012 at 10:22 PM

Speaking of Hauling in Campaign Loot!
=====================================

Ryan Makes $4.3 Million House Race Haul
By National Journal News Desk
August 20, 2012 | 7:39 a.m.
***************************

Rep. Paul Ryan, the Wisconsin Republican and Mitt Romney’s vice presidential running mate, raised $4.3 million for his reelection bid to his relatively safe House seat through June.

As of April 1, only five House candidates had raised more than the $3.1, according to the Center for Responsive Politics. Ryan’s leadership PAC, Prosperity PAC, raised $4.2 million through June, almost quadrupling the $1.1 million it raised during the entire 2010 cycle.

Ryan spent the weekend campaigning, including a stop in Florida. Ryan is still running for his 1st District seat in Wisconsin despite sharing the top of the GOP ticket with Romney, according to reports
===========

http://influencealley.nationaljournal.com/2012/08/ryan-makes-43-million-house-ra.php

canopfor on August 20, 2012 at 10:23 PM

The key item is this.

At anytime Romney can write a 50 million dollar check to himself.

gerrym51 on August 20, 2012 at 10:24 PM

That’s the thing… when the civil war ended, one side won and the other surrendered. They signed some documents, lay down their weapons, and returned home to begin life again. If Romney wins, OWS, Code Pink, Pelosi, and all are not giving up and going home. They are going to dig more trenches and keep firing away. However, I’m hopeful that Romney/Ryan can turn the economy around and make headway in bringing the country back together. In the long run, we can hope things will get better, but I suspect it will be a long while.

behiker on August 20, 2012 at 10:19 PM

Romney winning and fixing the economy will, I hope, allow us to make the case to the people who were sucked in by the 8 year Bush rage machine and HOPIUM! to step away from the commie. If not then we have a 4 year lead on getting ready for what comes next. The Democrats are NOT going to force Christians to have fewer religious deferences given than what the donks grant Islam, and Barack winning by a nose is not mandate to keep using the EPA to try to destroy the American way of life.

Trying to Cloward/Piven this nation is not going to work, I sincerely do not believe that either Obama or Ow$ want anything less than the destruction of our Constitutional form of government and I will use every peaceful means at my disposal to enjoy the liberties that have been heretofore considered an American birthright,

This nation has done just fine for over two hundred years playing games on a checkerboard, Barack Obama and friends do not willfully get to burn up the checkerboard and put in a backgammon one just because “I won”.

There are limits to how far government gets to go, the idea that the NEA seriously tried to make my son watch Obama’s every address the first year enraged me like nothing else in my political life. They were not quite so nice to Bush.

You do not get to use taxpayer money to politick, OR if the new set of rules are “no rules” both sides will sooner or later get to play that game.

I hope the nation heals, but if a majority of Americans especially those of American Idol nation who do not follow politics at all but decide based on a media that is so biased it would shamelessly run nothing but ads on Akin and “tax returns” until election day then the American experiment is probably already over.

harlekwin15 on August 20, 2012 at 10:32 PM

Fun fact (and you can calculate it yourself): The Obama campaign burn rate is $1.9 million/day in July. Same as in June. He’s going to spend the critical month of September holding big bucks fund-raisers, less campaigning. I think he just wants to make sure he has enough to get his legacy library built.

de rigueur on August 20, 2012 at 10:35 PM

Fun fact (and you can calculate it yourself): The Obama campaign burn rate is $1.9 million/day in July. Same as in June. He’s going to spend the critical month of September holding big bucks fund-raisers, less campaigning. I think he just wants to make sure he has enough to get his legacy library built.

de rigueur on August 20, 2012 at 10:35 PM

so that Captain “PotUS candidates should expect to be an open book” can not show off any of his sealed records it’ll be great…

maybe in 500 years the New North Americans will find the time capsule with his and his wife’s curricula vitae and masters theses.

harlekwin15 on August 20, 2012 at 10:37 PM

By the way, since I get annoyed at the autoplay videos on this page, allow me to be consistent and note the management that I am pleased that I’m not getting them at the moment. :)

22044 on August 20, 2012 at 10:39 PM

Creepy Photo. Always reminds me of Thulsa Doom of Conan the Barbarian

D-fusit on August 20, 2012 at 10:40 PM

If he wins a second term while being outgunned financially and staggering under the weight of the Obama economy, that’d be one of the most astounding electoral achievements in modern U.S. history.

Oh, please — Obama couldn’t win in 2008 without outspending McCain/Palin 3 to 1 in a year a cardboard cutout with a (D) behind its name would have won. Now that he’s got an actual record to run on for the first time in his life — and it is one of total failure — no way he can win without outspending his opponent 6 to 1.

Dark Star on August 20, 2012 at 10:42 PM

no way he can win without outspending his opponent 6 to 1.

Dark Star on August 20, 2012 at 10:42 PM

I wouldn’t bet the house payment on that. Look the over the top shameless M$M bias and kneepads is like a spare order of magnitude of spending so say he needs 5 to 1 cash to get 6to1 results….

the media will shamelessly and seemingly totally obliviously run nothing but Akin and Tax scream stories from here until election day if they think it helps.

We need to maybe hire some good conservative FBI/LE retirees at the RNC and start keeping tabs on reporters and datamining their trash/open air commo like they do ours and figure out their network. The US has been undeniably ripped off the last 4 years, and Corzine needs to be a long term GOP project to render his name a one word cautionary tale.

harlekwin15 on August 20, 2012 at 10:48 PM

The One’s endless fundraising efforts raised $49 million last month — while the campaign spent $59 million.

Kind of like he run’s the government.

And I wouldn’t be too hopeful on BIG DONORS opening their wallets, when they’ve already regressed to begging for $3 donations.

You’d think that Maher, Ol’ Earl and Georgie Soros would be writing checks by now. Or maybe the Hollyweed elite.

GarandFan on August 20, 2012 at 10:49 PM

bayam on August 20, 2012 at 9:50 PM

Yeah, Obama sucks all right.

Chuck Schick on August 20, 2012 at 10:56 PM

Oh my: Romney’s cash advantage over Obama grows to more than $60 million

…so when will some of the …billion dollars…that Corzine said “just disappeared” start coming in in untraceable amounts?

KOOLAID2 on August 20, 2012 at 11:01 PM

The One’s endless fundraising efforts raised $49 million last month — while the campaign spent $59 million.

Sounds about right. These folks really are against balance budgets!

southernms on August 20, 2012 at 11:05 PM

Simple majority? or 60?

51 to get to the floor, and for reconciliation. 60 if we have to fight a filibuster.

PKO Strany on August 20, 2012 at 11:05 PM

…so when will some of the …billion dollars…that Corzine said “just disappeared” start coming in in untraceable amounts?

KOOLAID2 on August 20, 2012 at 11:01 PM

Most of that money went to JP Morgan. Jamie Dimon and the boys sent Jonny a message that, if they didn’t get their money, he’d be very lucky to only wake up with a horse’s head in his bed.

Resist We Much on August 20, 2012 at 11:05 PM

If he wins a second term while being outgunned financially and staggering under the weight of the Obama economy, that’d be one of the most astounding electoral achievements in modern U.S. history.

And so, to paraphrase Keyser Soze,” And like that, wooh, we’re Greece.”

Tenwheeler on August 20, 2012 at 11:06 PM

And if reconciliation was good enough for the Dems to pass the Obamacare turd sandwich, then they’ll have a hard time trying to block its repeal.

BryanS on August 20, 2012 at 11:12 PM

Wait, wasn’t it back in March that the syncophants over at Rolling Stone were drooling overObama’s Awesome Cool Amazing Super Hip Busy Busy Busy Enormously Staffed Unbeatable Reelection Campaign?

Gosh. Takes money to run an enterprise like that. Who’d a thunk.

Obama runs everything like he runs his government. Grossly overpaid and overstaffed and deep in the red.

JoseQuinones on August 20, 2012 at 11:31 PM

The good news continues to flow…

The Romney/Ryan $60 million cash advantage is as of the end of July.

Which means Romney/Ryan will be even further ahead when the end of August cash figures are announced.

The announcement of Ryan as VP surely increased the momentum for the Romney/Ryan cash flow in August.

wren on August 20, 2012 at 11:45 PM

How do we even know that Obama and crew are telling us the truth as to their fundraising? Remember how they disabled the cc security features so as to take donations from abroad…I’m sorry but they even told people to get cc, donate the max and don’t worry about paying it back wink wink… I just don’t believe one darn thng that Obama and Crew say…not one thing.

CCRWM on August 21, 2012 at 12:10 AM

Oh my: Romney’s cash advantage over Obama grows to more than $60 million

And, yet, Obama will figure out how to spend more than what Romney has and somehow go back to his house, so-called, in Chicago with more than his campaign now has.

Lourdes on August 21, 2012 at 12:13 AM

I sincerely hope our President, First Lady and the girls enjoy whatever vacation(s) they have planned between now and November.

inviolet on August 21, 2012 at 12:31 AM

I just don’t believe one darn thng that Obama and Crew say…not one thing.

CCRWM on August 21, 2012 at 12:10 AM

I don’t, either.

Obama and the DNC have never been held accountable for their scurrilous “foreign donations” scheme from the 2007/08 campaigning. “Anonymous donors” at that.

Lourdes on August 21, 2012 at 1:05 AM

Good, good, this Muslim Brotherhood stooge needs to be booted out of the WH asap before he totally destroys America.

thinkagain on August 21, 2012 at 1:32 AM

Zero is not just spending, he is paying off his chronies with campaign contirbutions with no chance of winning. That’s why he is “polling” stupid things like which radio station interview is best in IL and such. Each slot in ads bought is a pay-off to the lapdogs in the media. It is simple money laundering.

anikol on August 21, 2012 at 2:47 AM

“panic point” for Democratic donors where they start taking Romney seriously as a genuine threat to beat O, and that’s when the wallets will finally open

Not open wallets but jumping the sinking ship.

Liberals are crowd people who want to be at the winning team.

Jumping to Romney is not that difficult for them since Romney is pretty liberal himself and don’t underestimate what will happen when it becomes cool to oppose Obama. Newsweek had one sheep just cross that bridge.

huntingmoose on August 21, 2012 at 3:40 AM

There will be a “panic point” all right, however, it won’t be
with Democrat donors – it will be with socialist donors only.

Any thinking Democrat wants Obama out of office as badly as
repubs do.

Amjean on August 20, 2012 at 10:21 PM

Great observation. RR are putting together a coalition much like another RR did back in 1980. The Reagan Democrats are now the Romney Democrats!

MJBrutus on August 21, 2012 at 5:42 AM

The Democrat Party has always been the home of radical socialists. They have always been a part of that kooky coalition. But now they run the party and you would be hard-pressed to find a real conservative Democrat in the bunch. Any non-radical Democrats still in the party are there out of habit.

swinia sutki on August 21, 2012 at 6:52 AM

Back in 2008, McBurnrate, when asked why he thought he could handle managing the country, responded to the effect that “Well, I’m running this campaign pretty well, aren’t I?”

And sensible people everywhere thought it was not just wrong, but that the idea itself was basically preposterous, saying in essence that if a guy could get hired, that proved he could do the job.

Well, fast-forward 4 years, and look – Zero is indeed running his campaign like he ran the country, and Romney is running his like he’s auditioning for the job of fixing what Zero broke. They are indeed both showing us what they’ve got.

Dirty Creature on August 21, 2012 at 7:26 AM

It needs to be 4-5 times that to compensate for the media being the 2nd leg of the Obama campaign.

albill on August 21, 2012 at 7:28 AM

that’d be one of the most astounding electoral achievements in modern U.S. history.

exactly. which is why this thing has been in the bag for 5 months.

t8stlikchkn on August 21, 2012 at 8:15 AM

that’d be one of the most astounding electoral achievements in modern U.S. history.

And wouldn’t the media cream itself getting to write another “HISTORICAL!!” headline?

Washington Nearsider on August 21, 2012 at 9:51 AM

Who said that BO is leading by 3 points?

Voter from WA State on August 21, 2012 at 12:49 AM

The RealClearPolitics average, which is an arithmetic average of percentages from all polls, including respectable pollsters like Gallup and Rasmussen, but also See BS and Pee Pee Pee (D) and Poo polls, which use unadjusted D+10 samples of uninformed people to show that the Obama campaign, like the private sector, is doing just fine.

Such an average can be very misleading. For example, if a weekly Gallup poll of 3500 registered voters shows Romney leading by 2% (70 votes) and a See BS poll of 500 adults shows Obama leading by 10% (50 votes), the arithmetic average of percentages used by RCP would show Obama leading by 4%. But a weighted average of all 4000 people sampled would show Romney leading by 20 votes, or 0.5%. This is why poll results need to be interpreted carefully for sample size and composition, otherwise we end up with Mark Twain’s “lies, d@mned lies, and statistics”.

Steve Z on August 21, 2012 at 10:15 AM

Smart money, money that doesn’t care who wins they just want to be at the winners table, follows the winners.

Obama, last election, was the clear winner, so the big bucks flowed to him…now Romney is the clear front runner and the money is flowing back to him.

Bankers, wall street, medical, energy, insurance, pharm, all of that really big money could care less who is in charge, as long as they are at the table dictating and getting what they want. And the only way they do that is by giving money and making sure that money wins.

Romney’s money will get even larger as the separation and reality sets in that Obama is out.

Money doesn’t care who is in power, money is the power.

right2bright on August 21, 2012 at 10:16 AM

Maybe the big socialist donors are going to keep their wallets shut and wait for the next big thing to appear before making another push to turn the country really red. Since Mitt has this much cash maybe he could loan a few bucks to Brunner in MO, so he can run a write in campaign.

Kissmygrits on August 21, 2012 at 10:19 AM

Just wondering … how much of that $59,000,000 Osquanderer spent on his campaign was siphoned from the American taxpayer?

stukinIL4now on August 21, 2012 at 10:21 AM

Steve Z on August 21, 2012 at 10:15 AM

Exactly, polls can’t measure enthusiasm, and the polls given to the MSM, by design, are geared to make it a “race”, that’s what sells. That is what drives commentary.
The only polls that are somewhat accurate are the internal polls, the polls the politicians pay millions for. And by the tone of the campaign it is safe to say the internals show that Obama is in big, big trouble.
And by the tone, is shows that Romney is on the offense and is in great shape…added to that, the money is flowing to Romney, and that money could care less who wins, it backs the winner.

right2bright on August 21, 2012 at 10:21 AM

Maybe the big socialist donors are going to keep their wallets shut and wait for the next big thing to appear before making another push to turn the country really red. Since Mitt has this much cash maybe he could loan a few bucks to Brunner in MO, so he can run a write in campaign.

Kissmygrits on August 21, 2012 at 10:19 AM

Only a couple of those donors, along with the unions and attorneys will do what you say…big donors own business and they have to be sitting at the winners trough so they can still have a say in their agenda.

right2bright on August 21, 2012 at 10:24 AM

2016: Obama’s America is an excellent movie, and the fundraising numbers are showing that the vetting that this movie does (and also via other non-traditional media sources)is finally being accomplished. It’s nice to see that Americans are now “down-sizing” Obama, instead of the reverse.

The movie features Obama’s anti-colonialist attitudes, which seemingly colors ALL his foreign policy tactics. It also highlights his close relation ship with American Communist Party member Frank Davis (not a composite mentor, though Obama tries to obscure his identity in the “autobiographies”.

The movie also shows an interview with George Obama, whose appreciation for the benefits of capitalism and inherent sense of self-responsibility and dignity are in stark contrast with his half-brother.

Mutnodjmet on August 21, 2012 at 10:54 AM

Obama’s unique strategy: Trail Romney in money, then seek smaller crowds

http://news.investors.com/article/622760/201208210826/team-obama-describes-setbacks-as-all-part-of-his-plan.htm?ven=rss

lovingmyUSA on August 21, 2012 at 10:54 AM

Who said that BO is leading by 3 points?

Voter from WA State on August 21, 2012 at 12:49 AM

RCP has Zero up by 2.5. But the polls are still meaningless at this point in the race.

stvnscott on August 21, 2012 at 10:57 AM

(My apologies for repeating a comment I posted on another thread.)

today someone in the Democrat machinery poo-pooed Romney’s $62 million cash advantage by saying that Dresden-like carpet-bombing of political attack ads have diminishing returns to scale. The clown held that a good ground game now becomes more important.

Two things come to mind: (1) How do they know this about the carpet-bombing of ads, recent empirical evidence? (2) How’s that great ground game working out for them given that their Dem registrations are down this year — and the (R) registrations are up?

Covered in flop sweat and reeking of desperation, I tell you!

The War Planner on August 21, 2012 at 11:01 AM

Such an average can be very misleading.

Steve Z on August 21, 2012 at 10:15 AM

..you de man, Steve Z and y’ere doing the Lord’s work! I thought I was alone on this point. Glad to have an ally and fellow stat junkie.

:-D

The War Planner on August 21, 2012 at 11:04 AM

http://blogmaverick.com/2012/08/16/which-usa-do-you-work-in/

bayam on August 20, 2012 at 9:50 PM

lol, you tried to insult our collective intelligence by posting this Mark Cuban tripe last night. Why do you and Cuban Hate America?

Redacted-

Del Dolemonte on August 21, 2012 at 11:09 AM

As we know from 2008, Obama’s campaign plays very fast and loose with reporting campaign contributions. Plus, does anyone really doubt that the cohorts and comrades of the SEIU, AFL-CIO, Teachers Unions, and government employees unions aren’t going to dump a few hundred million in ad-buys, superpac donations, and just simple feet on the ground to knock on every door possible to turn out their vote?
As heartening as it is to read that Duh One is getting shellacked in the money department, it doesn’t tell the whole story and Romney better double and triple up on D’Ohbama to have any shot at victory.

smfic on August 21, 2012 at 12:58 PM

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