President Obama’s campaign war chest boasts more than 10 times as much cash than Republican presidential candidate Mitt Romney at the end of March, according to financial reports obtained from the Federal Election Commission.
In a previous rolling out report, we shared that Obama was lagging far behind in fundraising compared to his numbers four years ago. But he remains in an enviable position when compared to Romney so far. And this is despite the fact that, as we also reported, Obama was the only bona fide candidate to get more bad press than good press so far in 2012, according to Pew Research Center’s Project for Excellence in Journalism.
Obama’s presidential campaign closed March with a colossal $104 million in the bank. The former Massachusetts governor, by comparison, has $10.1 million. Romney procured $12.6 million in March, however, by far his best fundraising month thus far. Obama, on the other hand, pulled in $35 million last month.
The reason why Romney is so far behind Obama in the financial department? Romney had to spend an exorbitant amount of cash to close out his two closest, pesky rivals, Newt Gingrich (who never had a chance but landed some effective body blows to Romney nevertheless) and Rick Santorum, who was very much a viable presidential contender. The Romney camp $10.3 million in March, as it began to close out the GOP nominating contest with big wins in the Michigan and Ohio primaries. That’s the explanation behind having only 10 million in the bank.
Those numbers pale to the money Obama raised for the month. Obama will not be able to use all the money, mind you. Some $53 million total that will be split between Obama’s campaign ($35 million) and the Democratic National Committee ($18 million).
The real competition and comparisons will commence April reports are filed as Romney is pretty much the guaranteed GOP candidate. Furthermore, Romney just this month formed a joint fundraising committee with the Republican National Committee that he can use to start raising funds for the general election.
Romney’s campaign aims to raise $800 million for the fall campaign, according to a memo reported by the New York Times.
– terry shropshire