In May, Mitt Romney and the GOP outraised the president's reelection effort $76 million to $60 million.
The Obama team has tried to pivot the bad news into a fundraising tack, such as this email, signed by the president:
"I will be the first president in modern history to be outspent in his re-election campaign, if things continue as they have so far. I'm not just talking about the super PACs and anonymous outside groups -- I'm talking about the Romney campaign itself."
Comedy Central comedian Stephen Colbert offers some helpful advice to the relatively cash-strapped Democrats.
"While things may be sunny with a chance of cash for the GOP, the financial forecast for the Democrats is partly cloudy with a chance of fighting a seagull for half a hot dog bun," Colbert said, in the opening segment of Wednesday's "Colbert Report."
"Democrats, of course, have only themselves to blame for the shortfall, because they refused all corporate money for the convention, and they have tried to raise taxes on the top one percent," he said. "So I guess you don't need our money, Democrats."
If Obama wants to tout its thousands of small donations over the fewer, bigger gifts Romney gets, Colbert says, than their smaller haul is on them: