President Obama has 10 times more cash on hand than Mitt Romney
President Obama’s campaign had 10 times as much cash on hand as former Massachusetts governor Mitt Romney at the end of March, according to financial reports filed Friday with the Federal Election Commission.
Obama’s presidential campaign closed March with $104 million in the bank as compared to $10.1 million for Romney. The former Massachusetts governor raised $12.6 million in March, his best fundraising month to date. Obama brought in $35 million last month.
Romney’s presidential campaign, of course, has just closed out the GOP nominat ing contest and spent heavily to do so. It spent $10.3 million for the month, as it began to close out the GOP nominating contest with big wins in the Michigan and Ohio primaries. It ended the month with $10.1 million cash on hand.
Those numbers pale to the money Obama raised for the month — $53 million total that will be split between Obama’s campaign ($35 million) and the Democratic National Committee ($18 million).
But given that Romney was still in a primary campaign, it’s not really an apples-to-apples comparison. That comparison should start to come into focus when April reports are filed; Romney is now the clear presumptive GOP nominee, and he just this month formed a joint fundraising committee with the Republican National Committee that he can use to start raising funds for the general election.
Romney’s campaign aims to raise $800 million for the fall campaign, according to a memo reported on recently by the New York Times’ Nicholas Confessore.