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Romney, RNC hold advantage in cash on hand

Aug. 21, 2012 at 10:08 AM   |   Comments

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WASHINGTON, Aug. 21 (UPI) -- Mitt Romney and the Republican National Committee bumped their cash advantage over U.S. President Obama and Democrats in July, records indicate.

Intense fundraising by Republicans and increased spending by President Obama and his allies left Romney, the presumptive GOP presidential nominee, and the RNC with $62 million more in the bank than the Democrats at the end of July, The New York Times reported.

Obama's campaign and the Democratic National Committee spent $91 million, including $40 million Obama's campaign spent on advertising, in July and raised $75 million.

Romney spent less than half of what Obama did on advertising, as conservative super PACs and other outside groups filled the void.

Federal Election Commission reports filed Monday indicate Obama and the Democrats raised a combined $75 million during July, while Romney and Republicans raised a combined $101 million.

The Democrats had about $124 million in cash on hand, mostly in Obama's campaign account, and the Republicans had $186 million, records show.

The Times said the July figures don't include money Romney campaign officials said was raised through small online donations and larger contributions since Romney tapped Rep. Paul Ryan of Wisconsin as his running mate.

Restore Our Future, a super PAC founded by former Romney campaign aides, reported raising $7.4 million in July, FEC documents indicate.

Priorities USA Action, a super PAC backing Obama, raised $4.8 million.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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