Mitt Romney raised $106 million to President Barack Obama's $71 million in the month of June, putting the Republican candidate ahead of the incumbent for the second month in a row. A fundraising powerhouse in 2008, Obama could be in trouble.
In May, Romney raised $77 million to Obama's $60 million in what has become the most expensive presidential campaign in history. Romney's June total is the second highest monthly total ever for a presidential candidate. Even though Romney raised more money, Obama had 160,000 more individual donors. Less than one fifth of Romney's donations were less than $250.
Obama tends to raise money in smaller amounts from more donors, while Romney has wealthy donors who contribute larger amounts to him and super PACs that support him. The Citizens United Supreme Court decision opened the floodgates for unlimited campaign spending, and the Republican candidate has been reaping the benefits. Obama does not receive as much support from super PACS, as many Democrats object to their existence.
The Romney campaign has been galvanizing supporters after the Supreme Court upheld Obama's healthcare law, a major policy victory for the president. The Republican received a flurry of donations following court's ruling, raising $4.6 million in online donations from over 47,000 donors. The Obama campaign declined to release specific fundraising numbers following the decision, only saying that they had raised more than Romney.
In response to the announcement that Romney raised more than Obama in June, the president's campaign sent out an E-mail to supporters:
"This is no joke," wrote Ann Marie Habershaw, the Obama campaign's chief operating officer, of the June totals. "If we can't keep the money race close, it becomes that much harder to win in November."
She warned, “We could lose if this continues.”
Yet some high-profile Obama donors say they aren't worried. Film producer Harvey Weinstein said Democrats aren't raising as much because they don't feel threatened. He compared the candidates to two movies his studio made for roughly the same budgets, Obama to the Oscar-winning The King's Speech and Romney to a less successful Our Idiot Brother.
"You can spend all the money in the world, if you have a bad product it doesn't matter," Weinstein said.
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