WASHINGTON: US Democratic President Barack Obama and his allies scored a financial victory in August over Republican challenger Mitt Romney and his backers, as Romney’s team hit snags in the money race, financial disclosures showed.
Monthly reports filed with the Federal Election Commission indicate that Obama’s strategy of collecting relatively small donations from donors could offset Republicans’ efforts to boost Romney through big-money donations by wealthy supporters to independent groups.
And in a rare show of strength, the key pro-Obama “Super PAC” — a political action committee that operates outside the president’s campaign - raised more money last month than its rival pro-Romney group, according to the filings with the FEC.
The FEC reports portray massive spending by both sides in August, as the campaigns approached their party’s nominating conventions and sought to establish themes for the fall campaign.
Obama’s campaign was particularly active, raising $84.2 million and spending $83.2 million last month as it continued to emphasize Obama’s efforts to improve the economy and cast Romney as a wealthy former private equity executive who is out of touch with the concerns of most Americans.
The president’s campaign ended the month with $88.8m, compared with $50.4m for Romney’s campaign.
Romney could be helped by the Republican National Committee, which at the end of August had $76.7m on hand, compared with just $7.1m for the Democratic National Committee. But some of the RNC money could go toward congressional candidates, and there are various limits on how Romney can use RNC funds.
With the November 6 election looming, the candidates’ ability to sustain large grassroots operations and have flexibility for rapid response through TV advertising may prove crucial in the tight race.
Since April, Romney has relied on outside backers for more than half of his ads, an academic study found last week — far more than Obama, whose campaign has been spending at a rapid clip on advertising and its vast get-out-the-vote network of campaign staff and volunteers.
But in August, Romney’s key outside “Super PAC” — Restore Our Future — plowed through $21.2m as its fundraising declined for the second month, according to FEC disclosures.
That left the group with just $7.4m in cash on hand, raising questions about how much of an ad-buying force it will be in the home stretch.
Bringing in $7m in August, Restore Our Future — whose attack ads on Romney’s foes were key to his clinching the Republican nomination — lagged the pro-Obama Priorities USA Action, which has long struggled to attract Democratic donors who generally disdain rules that allow Super PACs to raise and spend unlimited funds.
Reuters
