June 21, 2012
The Obama campaign spent more money than it raised in May, but is sitting on $110 million in cash, according to a Federal Election Commission filing on Wednesday.
Obama for America raised $39.1 million in May and spent $44.6 million. The $39.1 million makes up part of the $60 million, announced earlier this month, that the campaign raised jointly with the Democratic National Committee.
Combined, the Romney campaign and Republican National Committee trounced that number, bringing in $76.8 million in May.
Hmm. Inevitably: Obama Runs His Campaign Like He Runs the Country… In the Red.