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 Apple has installed security backdoors on 600m iPhones and iPads, claims security researcher
- 2 UK pirates will get four warning letters a year
- 4 Is Gideon Levy the most hated man in Israel or just the most heroic?
- 5 Israel-Gaza conflict: Deadly flechette shells 'used by Israeli military in Gaza Strip’
Hacking Trial: Rebekah Brooks, Raisa and a new twist in the saga of a horse fit for a Prime Minister
Israel-Gaza conflict: Palestinian death toll now exceeds 500 – but Israel fights on
Income tax league: Revealed - the UK towns where people pay the most and least tax
Israel-Gaza conflict: Deadly flechette shells 'used by Israeli military in Gaza Strip’
Malaysia Airlines MH17 crash: Blogger captures footage ‘showing BUK missile launcher that shot down jet’ now back in Russia
Malaysia Airlines flight MH17 crash: 'Nine Britons, 23 Americans and 80 children' feared dead after Boeing passenger jet is 'shot down' near Ukraine-Russia border
Malaysia Airlines MH17 crash: Vladimir Putin is given 'one last chance' to end hostilities in Ukraine
The 'scroungers’ fight back: The welfare claimants battling to alter stereotypes
The truth about conspiracy theories is that some require considering
Malaysia Airlines MH17 crash: Ukrainian military jet was flying close to passenger plane before it was shot down, says Russian officer
Malaysia Airlines MH17 crash: victims’ bodies bundled in black bags and loaded onto trains
Competitive: The Green Recruitment Company: Job Title: Scheme Manager (BREEAM)...
Flexible, depending on experience: The Green Recruitment Company: Job Title: T...
£850 - £950 per day: Orgtel: Programme Director - Conduct Risk - Banking - £85...
£100 - £110 per day: Orgtel: Project Coordinator/Order Entry Hampshire