Huge GOP money lead should reshape the 2012 race

(CBS News) The Romney campaign and Republicans have outraised President Obama for three straight months, and their cash advantage could shift some of the tactics on both sides.

Romney spent the day in Texas raising money, assembling a war chest that could far outpace the president's.

CBS News correspondent Jan Crawford reports it was another big month for Romney and the Republicans who over the past three months have pulled in $284.2 million -- significantly more than the $206 million raised by President Obama and the Democrats.

Romney's not burning through money like the president's team, which spent $109.7 million last month, $34.7 million more than they raised.

That means Romney and the Republicans will have more to spend in the fall. They now have $186 million in cash on hand, compared to $124 million for the president's team.

Factor in the outside groups, and Republican sources predict by Labor Day they could have a two-to-one spending advantage.

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In Houston for a fundraiser, Romney used that as part of his fundraising pitch, saying to donors: "You've perhaps noticed in the paper, we're a little wiser in our spending of dollars than the other side apparently. I'm not managing their campaign for them, but we're going to spend our money wisely, we're going to spend it to win."

Romney's fundraising advantage raises tactical challenges for the President. It means Romney can stretch the map and force the president to divert sources and spend money defending states he may have considered solid.

CBS News correspondent Nancy Cordes reports the Obama campaign says it's comfortable with their decision it made to spend more heavily over the summer in battleground states. They argue it was money well spent defining governor Romney right after he clinched the Republican nomination.

In the 12 top battleground states, the Obama campaign has spent more than $100 million since May on ads like the one attacking Romney's business record and tax plan.

The Obama campaign contends the strategy is working.

In the most recent Quinnipiac/CBS News/New York Times poll in Ohio, Romney's unfavorability rating of 43 percent exceeded his favorability rating of 40 percent.

Still, the president acknowledged today he is being outraised by Romney and Republican outside groups, but he tried to turn it into a virtue.

"I mean they got folks writing $10 million checks, $20 million checks," Mr. Obama said recently. "They should be contributing that to a scholarship fund to send kids to college."

Here's the peril for both sides: Come November, voters may be sick of all that advertising. That's another reason the Obama campaign argues it was wise to spend big this summer before TV viewers start to tune out.

[skeezix06]

I guess if you can stand to watch all those commercials it could reshape the race. I ran for the exit door and am now watching dvd's to escape the insanity.

[Woody8318]

http://www.usgovernmentspending.com/federal_debt_chart.html

[CaptainSmollett]

It is astonishing that last Friday's S&P downgrade of U.S. debt has received so little media attention.

Obama has increased debt by $6 trillion, and with trillion-dollar annual deficits there's no end in sight - and now a second rating-agency downgrade! This isn't newsworthy? OMG!!!

[cowdog123]

Please provide me the source for your 6 trillon dollar figure? I think your off quite a little but then again I may ne wrong as my research does not even begin to find that figure

[rayward73446]

Romney's pandering to the super wealthy for huge donations is a sign of things to come if the liar gets elected. He is dealing favors and support for these huge donations. And the big donors are betting he can win, so they can have an in at the white house. Money corrupts, always has and this will never change. Mitt is focusing on serving the wealthy now and will continue to do so if he gets elected. He has no consideration for working Americans, and never will. Romney has not shared how he will create all those promised jobs, or how well they will pay. He probably believes that a minimum wage job pays a living wage. His focus on the wealthy translates into low pay, no benefits, and the rich reaping all of the rewards, if he can create a single job. Which he does not know how to do.

[CaptainSmollett]

Typical ignorant Leftist rhetoric: The Left is constantly trying to inaccurately portray conservatives as hating the working-class. That's dishonest propaganda pandering for votes.

The GOP supports opportunity for ALL through a robust system of free-enterprise. Obama wants a big-government social-welfare state.
So the choice is clear: opportunity or dependency; economic growth or economic stagnation; jobs or unemployment; hope or continued despair; a thriving system of free-enterprise or a big-government welfare-state.

If Obama is your Messiah, why has the working-class been hurt the most under Obama's administration?

[Eco99]

Talk about propagandizing rhetoric, you sling it like the best of them Captain.

[nearl451]

Money corrupts. This point was well understood by McCain. This point was completely missed by the SCOTUS "Citizens United" ruling.

When there were some campaign finance rules, the traditional source of that corruption was lobbying. You don't want the crash of 2008 to reshape banking rules; you lobby - and it works regardless of party. This is the "K" Street, Abramoff phenom.

Now, you just pile tomes of money to state whatever you want (lie, truth, spin....whatever) through SuperPacs toactually DROWN OUT any other voices by pruchasing market share. If you have a legitimate need that you want expressed, your voice cannot compete aganist this much money.

The answer to the caucophony is taxation. SCOTUS has already declared that Congress may tax just about anything for any purpose. Superpac donations shouldbe taxed at 90% and added directly to the US Treasury. There would still be well more than enough money in the political process for free speech, yet the deficit would suddenly disappear every few years and we could start paying down some debt. This approach also has the benefit that those who have money to burn to supoprt their own interests could start paying their fair share of the tax burden (something else they lobby insanely against).

By golly, I think I have a platform plank.

[CaptainSmollett]

That's genius - mandate that people can't spend their own money how thy wish. What other individual liberties do you propose to eliminate through confiscatory taxation?

You just hate super-pacs when they are against YOUR candidate.

[88Ronin]

REPUBLICANS: THE AMERICAN TALIBAN

ABORT REPUBLICANISM

[davidd5063]

Someone forgot to tell Mittens he doesn't get to keep the money he doesn't use on the campaign in an account in the Caymans. Nobody with a brain pays ANY attention to ANY political advertising since all it's used for is to tell half-truths and spread misinformation. Obama is spending most of his money on a ground organization and it shows where it counts. Money is a good thing, but only if it produces jobs and results - the GOP will never understand that.

[sspunout]

In the end, clean living and a positive outlook will win the day!

[rayward73446]

Hey DC-lover! who the hell is Barry? You must be another Koch brothers plant making replies to posts that make no sense, and spread the lies that the Koch brother's propaganda machines have created. Obama is raising money from a grass roots campaign. People like me who give what we can. Romney has sold out and granting favors to his big donors. Why else would someone donate millions to Romney's campaign?

[maz_beachbum]

There should be a 1 million dollar limit set on spending for elections. Too many US citizens are starving and needing help.

[Eco99]

by __---One_American---__ August 21, 2012 7:55 PM EDT
Blue States always take from the Red States, to give to those who don't work for it, in exchange for Democrat votes.

But now that game is over.
---------------------------------
What? Again you are wrong One American. Of the 32 states that received more federal tax dollars than they contribute 27 of them are Red States and of the 18 that give more than they receive 14 of them Blue States. Typical GOP, either scare people with exaggerations or just plain make up stuff. For a party so against Big Gov you sure are lined up to take the money.

[taxchurches]

"...we're going to spend [it] to win."

Buy that election, Mitt, since you've certainly done nothing to earn it.