President Barack Obama’s campaign raised $75 million in July, well below Gov. Mitt Romney’s July haul of $101 million.
Obama’s campaign declined to reveal their bank balance, but touted their registration of 201,000 first-time donors in July.
Romney’s revenues have been increasing, but he has limited his spending, boosting his bank-account balance to roughly $186 million.
Those savings will be used rapidly from the convention onwards as more voters tune into the election, likely giving him a home-stretch advantage over Obama.
Romney likely will have more money because Obama has already spent roughly $400 million since January 2011 trying to build up office, develop better software and battering Romney’s image in the eye of swing-voters.
That early-spending tactic helped President Bill Clinton in 2006 clobber the GOP’s candidate, Sen. Bob Dole.
But Obama is pushing hard to raise more money. On Aug. 6, for example, he’s flying to solid-blue Connecticut to hold two fundraisers. Later this week, he’ll fly to Colorado in search of voters and dollars.
However, Obama’s fundraising may be lagging because he may have tapped out his most enthusiastic wealthy donors. Those wealthy donors include the Chicago establishment, Hollywood figures, some New York financiers and sports stars.
The nation’s stalled economy likely is curbing donations from many of his small-scale 2008 donors.
Both campaigns touted the small-scale donations they got in July.
Romney’s team claimed that 94 percent of its donations were $250 or below.
Obama’s team announced that 98 percent of July donations were below $250. “Every bit helps. 98% of our contributions in July were $250 or less, for an average donation of $53.49,” claimed a September 16 tweet.
The campaign’s low average donation is skewed, however, by the campaign’s pursuit of small online donations — usually $3 — by holding lotteries for dinners with Obama, his wife and various culture stars, such as actors.
Neither team described the percentage of their donations that came in checks of $4,000 or above.
The campaign’s total donations are accrued by several entities.
For example, Romney’s money is collected and held by three groups, Romney for President, Romney Victory, and the Republican National Committee.
Obama’s intertwined entities include his campaign and the Democratic National Committee.