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September 22, 2012

How Did Romney End Up with Less Money in the Bank?

Mitt Romney's campaign, in a report filed to the Federal Election Commission this week, showed $50.4 million cash on hand -- nearly $40 million less than President Obama's reported $88 million.

National Journal: "Campaign finance experts say Romney, and Obama for that matter, have masked their true financial figures by reporting money raised by allied groups like the RNC in addition to the principal campaign account. They have presented all of the money as being part of one big pot, but that conflation belies the fact that how a campaign raises cash determines how it can spend it."

"To a large degree, Romney's fundraising was never as impressive as his bottom-line hauls suggested because much of the money was earmarked for accounts he doesn't directly control. Money raised with and for GOP committees still matters, but its value is diminished because the candidate doesn't directly control it."

Bloomberg: Who's really winning the fundraising race?


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