Romney's Midas touch turns up heat on Obama
Mitt Romney, who has built his political brand partly on his record as a master money maker, is showing similar strength as a campaign fundraiser with new figures showing him opening a daunting cash advantage over President Barack Obama.
Latest disclosure filings by the competing camps in this year's presidential race show that as of the end of July, Governor Romney and the Republican National Committee had $186m (£118m) in the bank compared to a more modest $124m for the Obama campaign and the Democrats.
Accurately assessing the cash battle is difficult, however, because it is not just the finances of the campaigns that have to be considered but also the towering sums being spent by outside organisations on their behalves, notably the so-called super PACs as well as other tax-exempt groups. Put those into the mix and the Republican edge looks even larger. Mr Obama's reserves are lower also by virtue of heavy spending in recent weeks to pay for expansive groundwork operations notably in the 20-odd battleground states that will decide the election and for intensive television advertising.
One worrying sign for the incumbent: the Democrats and the Obama campaign spent $91m in July while raising only $75m. Mr Romney remains behind Mr Obama in most swing-state polling, if only by fairly small margins, but his fund-raising heft will be an important consolation as he heads to Tampa for next week's Republican Convention. It will also be a source of unfamiliar anxiety for Mr Obama who, in 2008, left his convention with an enormous cash advantage over his then rival, John McCain.
"Governor Romney will have the resources needed to run a vigorous fall campaign and force the President to compete in states he never thought he'd need to defend," campaign spokesman Ryan Williams told Politico.
- 1 Moscow voted the world's unfriendliest city
- 2 The excuses your boss is most likely to believe when you call in sick
- 3 I'm pansexual – here are the five biggest misconceptions about my sexuality
- 4 More than 11,000 Icelanders offer to house Syrian refugees to help European crisis
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
Senior British politicians tell David Cameron: When dead children are being washed up on beaches, it's time to act
Jeremy Corbyn calls Osama bin Laden's killing a 'tragedy' - but was it taken out of context?
If these extraordinarily powerful images of a dead Syrian child washed up on a beach don’t change Europe’s attitude to refugees, what will?
If you're not already angry about the refugee crisis, here's a history lesson to remind you why you really should be
Theresa May says migrants should be banned from entering the UK unless they have jobs lined up
Negotiable: Recruitment Genius: This recognized leader in providing software s...
£40000 - £42000 per annum: Recruitment Genius: This is an exciting opportunity...
£35000 - £40000 per annum: Recruitment Genius: This IT support company has a n...
Negotiable: Recruitment Genius: A works engineer is required in a progressive ...