Obama edges Romney in August fundraising
posted at 8:41 am on September 10, 2012 by Ed Morrissey
Barack Obama’s fundraising bounced back in a big way last month. After three straight months of getting bested by the Mitt Romney/RNC fundraising juggernaut, Team Obama and the DNC managed to score a narrow victory in August. Moments after Team Romney announced that they had raised $111.6 million — their best month yet — Team Obama announced they had raised $114 million:
President Barack Obama and Democrats raised more than $114 million for his campaign in August, a campaign official says.
The total far exceeds Obama’s earlier monthly fundraising totals. He trailed Mitt Romney and Republicans in fundraising in July for the third straight month.
As Politico’s James Hohmann points out in his Morning Score e-mail, that still leaves out a key indicator, emphasis mine:
President Obama raised $114 million last month, and Mitt Romney took in $111.6 million. Romney’s campaign, including the RNC and state parties it raises money through, have about $168.5 million cash on hand. The Obama camp has not announced how much they have. Boston announced their numbers at midnight, and Chicago responded with theirs at 12:22. Chicago is highlighting that they had 1.1 million donors last month, including 317 thousand new ones. The Romney camp is highlighting that 94 percent (or 822,223) of their donations were for $250 or less, accounting for $34.6 million of his haul. Chicago says 98 percent of Obama’s donations were for $250 or less, and that the average gift was $58.
During the summer, the burn rate for Team Obama has exceeded 100%; they have spent more money than they have raised. Romney, on the other hand, has continually added to his cash on hand. For the first time this year, that was also true of Team Romney in August, as they spent $17 million more than they raised. The fundraising for Team Obama got very aggressive in August, filled with wheedling, cajoling, and dire predictions of catastrophe. To some extent, that seems to have worked despite getting some bad press over it.
Even so, at least at the moment it appears that Romney will continue to enjoy a cash-on-hand lead at the official start of the general-election fight, even if Obama managed to achieve parity for a month on the top-line figure.