Despite being outspent, Romney and his allies raised more in June

(CBS News) The momentum regarding presidential campaign finances turned significantly in June as President Obama and a pro-Obama super PAC were outraised by Mitt Romney and the super PAC supporting him, even though Mr. Obama's side spent more last month.

According to Federal Election Commission reports filed Friday, Romney and the GOP's fundraising totals have put Mr. Obama at a financial disadvantage, a position he's not used to.

As CBS News reported in early July, Romney and a joint committee with the Republican National Committee outraised President Obama and the Democrats by $35 million in June, bringing in a total of $106 million. 

Revealed in Friday's financial disclosures was the fact that an independent, pro-Romney political action committee, Restore Our Future, raised $20.7 million in June - a record monthly high for the group - outraising its Democratic counterpart, Priorities USA, which brought in $6 million, that group's monthly high as well.

But while the Romney side had a clear fundraising advantage in June, overall, Mr. Obama is still sitting on a lot more cash.

The Obama campaign had $97.5 million on hand as of June 30, even after spending nearly $57.7 million in June, heavily spending on TV advertising. The Romney campaign spent only $27.4 million and had $22.5 million banked as of the end of June. Keep in mind, Mr. Obama didn't have to spend money defeating opponents during a primary as Romney did, spending heavily through mid-April to secure his party's nomination.

Helping Romney bridge the gap between him and Obama is the relative strength of both the Republican National Committee and the super PAC Restore our Future. The RNC reported $89.4 million on hand compared to the Democratic National Committee's $37.5 million, while Restore our Future has $22 million banked as of June 30, compared to Priority USA's $3 million.

Restore Our Future's June fundraising haul included a $10 million donation by wealthy Las Vegas couple Sheldon and Miriam Adelson, who provided the majority of funding to a super PAC that supported Newt Gingrich's primary campaign.

Other wealthy Republican donors who have been fixtures this campaign season have also contributed, including Houston homebuilder Bob Perry, who donated $2 million, and Oxbow Corporation, a company connected to the wealthy Koch brothers, kicked in $1 million. 

Priorities USA's notable contributors in June include actor Morgan Freeman, who donated $1 million, and Irwin Jacobs, co-founder of Qualcomm, who gave $2 million.

Another high-profile super PAC, American Crossroads, which is spending on behalf of many Republican candidates, including Romney, pulled only $5.7 million in June (it's best month so far) but reported having $33 million on hand. The group connected to former George W. Bush adviser Karl Rove was the recipient of $2 million from Houston homebuilder Bob Perry, who also gave to Restore our Future.

[odgnj5]

Smart republicans already left the party or have been ousted. The people who are left are scam artists and people who don't understand facts or logic. We go from corruptions of Wall Street, Banking, Media, Politicians and now the presidential election. Where/When is it going to end. We are getting closer and closer to the collapse of the United States and the World.

[Tom-Norfolk]

What do they expect to get in return?
Why aren't they investing in jobs and equipment? Do you suppose they expect a greater return on their investment in Mitt the they would if they invested in new textile plants or other industries?
Of course they do!

An unregulated economy will only lead to more boom and bust cycles like we had with Pres. Bush. Mitt only plans more of the same policies that allowed for unrestrained greed on Wallstreet. How did that turn out?

The common argument is they will not invest until there is more certainty. So we are supposed to guarantee success? Or are we just going to insulate them from failure like we did with bailouts?

Bottom line these folks are betting big money on Mitt and it is because they demand something in return, and it is not to the benefit of the middle class.

[kevjustice]

sad it has come to this. want to buy an election? however, you may not be able to sell a bad product mitt no matter how much $ you have. problem is many people are gullible and ill-informed. maybe that is what cons are counting on.

[Lucky12345678]

A clear indication of the outcome of the November election is to just follow the money... Obama knows this because he outspent McCain 3 to 1 in 2008 and just look at the results!

[SDC203]

As a former Republican I don't see how anyone supports this leech of a man. At Bain he took care of financing, that means romancing rich interests and raising money, just like he's doing here. The problem is, he has no actual business savvy, other people with backgrounds in business brought things to his attention and he just signed off on them.

For a guy running on his business expertise, he sure could use a refresher on basic ethics. First thing everyone knows is that your credit history and TAX RETURNS are the defining statistics on how you are in business. Basically, Robney already admits that he either knows nothing about it or cheated his ass off.

Good old Swiss Mitt, the Palin in Pants

[hypnotoad72]

I'm not sure all will believe your claim (I do believe you), but what you say is right.

And most college ethics classes do go into some detail on what you mention as well (all should, mine did, but some probably don't).

I will say this - I don't like his policies, and he has admitted various issues that should be ruling him out, but "Romney" is his name.

[CHL_9mm]

How much of that $600,000,000 that bHo raised in his last election does he have left?

[hypnotoad72]

More than you.

[Robby33383]

Don't forget, Obama gets a free ride on Airforce 1 at our expense to any campaign event he wants!!!!

[hypnotoad72]

So did GWB. And previous presidents.

What's your problem?

[nohater]

don't know for sure who will win the election. do know that am just completely tired of obama and michelle. obama and his administration have done nothing for me, relatives, or friends. romney is the underdog in the coming election and obama recently declared victory. time will tell.

[hypnotoad72]

So what will Romney do for you?

http://www.popscreen.com/v/62Q3x/Romney-says-he%E2%80%99s-not-looking-to-put-money-in-peoples-pockets

[debbyt1-2009]

Well he has done a lot for my family. Having a grandchild who required a lot of medical care, because of Obamacare there will not be pre-existing conditions. Also many college graduates here being able to stay on their parents insurance has helped while we wait for the CEO's to stop stealing the money they get from their tax savings, and starting putting it back into America. Greed is ruining this country, and its men like Romney who are at the center of that greed...

[American72]

Glad to see Romney pulling in the money to win this thing; we don't need this socialist president reelected.

Where was all the fuss during the last presidential election when obama pulled in so much money? Be fair, quit your bi---ing because your socialist ain't doing it this time around. Americans know that Obama is not what our democracy needs. He's trying to destroy Christianity in this nation and most of us are just standing by and letting him do so.

[hypnotoad72]

How has Obama been socialist? By compromising to the GOP all the time?

http://www.forbes.com/sites/aroy/2011/10/11/how-mitt-romneys-health-care-experts-helped-design-obamacare/

http://www.foxnews.com/politics/2011/10/11/romneys-advisers-met-with-obama-to-help-craft-obama-care/

http://www.msnbc.msn.com/id/3096434/vp/40575006#40575006

Who is destroying Christianity, apart from "Christians" that don't practice what they preach?

http://www.gofbw.com/news.asp?ID=11991

http://www.huffingtonpost.com/2011/05/27/florida-budget-rick-scott_n_867925.html

Forgiveness is a prime tenet of Christianity...

I'm sorry you choose ignorance, which is not a tenet of Christianity.

[hypnotoad72]

More for you to chew on:

http://www.ontheissues.org/senate/Rick_Santorum.htm#Corporations
http://www.ontheissues.org/senate/mitch_mcconnell.htm#Corporations
http://www.ontheissues.org/john_mccain.htm#Corporations
http://www.issues2000.org/senate/Judd_Gregg.htm#Corporations
http://www.ontheissues.org/senate/jim_demint.htm#Corporations
http://www.ontheissues.org/senate/Orrin_Hatch.htm#Corporations
http://www.ontheissues.org/Senate/Chuck_Grassley.htm#Corporations

amongst others

"Voted NO on repealing tax subsidy for companies which move US jobs offshore. (Mar 2005)"

Obama voted 'YES' to repeal that anti-free market corporate welfare handout trash, so why don't people zip it with the claim that Obama is communist when it's the actions of his OPPOSITION, THE GOP, THAT ARE APPEASING THE COMMUNIST ENTITIES.

[hypnotoad72]

If jobs are an issue, then each American must vote for the politicians more likely to give incentives and tax laws to corporations that will create jobs in America* rather than voting for politicians that will rewrite the laws to continue or expand the amount of subsidy going to companies THAT offshore. I've posted on that issue for a long time, even citing links to politicians** that have given corporate welfare to companies that offshore.




* if any, since a free market wouldn't have taxpayer money going to any large multinational company capable of fettering and manipulating the market without the need of any government propping it up


** typically GOP but I know there are some Democrats that are no different - it is up to each voter to do their own research on candidates. Since a job is one's ability to live and prosper in the first place, it is therefore up to the citizens to be informed

[Lucky12345678]

"I will gladly pay you Tuesday for a hamburger today." - Wimpy

"The problem with Socialism is that you eventually run out of other peoples' money."

Europe has already defaulted, ask any private Greek investor. France is next, along with the rest of the PIIGS! Europe cannot GROW its way out of this debt problem because they have no real capitalist economic system. Since they have unions with many restrictive labor requirements they're drowning in government spending and debt, similar to the situation in Japan. It's only a question of when the crash will occur and if the USA does not get its house in order...

"Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy; its inherent virtue is the equal sharing of misery."- Winston Churchill

[retiredgustav]

Lucky12345678.. If you are referring to Obamacare as socialism please educate your self as to what socialism is. Obamacare is mandatory insurance. That means everyone has to have it or pay a penalty.