Sunlight Foundation editorial director Bill Allison wrote in July that Romney and the Republicans needed to outraise Obama and the Democrats by a margin of $158 million in July, August, September, and October to win the presidential fundraising fight. In July, Romney bested Obama by $26 million. But as we’ve just learned, Team Romney trailed Team Obama by $3 million in August, and faces long odds in outraising the president in September and October as more Americans tune in and participate in the presidential race.
As it now stands, Romney needs to raise $129 million more than Obama over the next two months to come out on top. If the 2008 election is any indication, Romney will need a miracle to make that happen. “It just seems impossible that Romney could catch Obama,” says Allison, who tracks presidential fundraising.
In the 2008 election, Obama’s fundraising was in high gear in the race’s final two months. He and the Democrats raised a record $192 million in September, and another $100 million-plus in October. Obama ultimately set the record for presidential fundraising in 2008 with nearly $750 million, according to the Center for Responsive Politics.
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