In June, the Obama campaign spent a huge sum of money and ended up with very little to show for it. Campaign finance records show that the combined Obama/DNC campaign trailed the combined RNC/Romney campaign in fundraising, $106 million to $71 million. But during the same month, the Obama campaign alone raised $46 million, while it spent $58 million, making June the second consecutive month in which the Obama campaign lagged behind Romney but spent more than it took in. The Obama campaign spent $38.2 million on TV ads alone, to Romney’s $10.4 million spent on TV ads in June.
Like the 2009 stimulus bill that the Obama administration promised would reduce unemployment below 6% by now, the Obama campaign’s lavish spending in June did not buy it very much. While outspending the Romney campaign nearly four to one in TV ads and setting a new record for spending on polling in the month of June, the national polls tightened and Obama saw his huge lead in New Mexico dwindle down to just five points in one poll.