Romney touts cash advantage over Obama

(CBS News) HOUSTON - Mitt Romney told a group of Texas donors on Tuesday that his campaign - which holds a huge cash advantage over President Obama's --is spending its money more wisely.

FEC reports filed on Monday showed Obama's total roughly $60 million less than the $186 million haul the Romney campaign announced earlier in August, raised with the assistance of the Republican National Committee.

"You've perhaps noticed in the paper, we're a little wiser in our spending of dollars than the other side, apparently," Romney told a group of 125 donors who each paid $50,000 to attend the finance event at the Houstonian Hotel, which President George H.W. Bush used as his official residence during his presidency. "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."

Obama's campaign has outspent Romney over the summer months through a television ad campaign designed to define the presumptive Republican nominee, as well as through large investments in the ground operations in swing states. Romney has been more limited in what he has been able to spend, with much of the money raised for his general election campaign not available until after next week's GOP convention in Tampa.

Speaking in oil-rich Texas to a group that included oilman and Romney supporter Harold Hamm, Romney told the group that he plans to describe his energy plan in more detail at a speech he will give in New Mexico later this week.

"Your input is something I wanted to retain before we actually cross the T's and dot the I's on those policies," Romney said. "... I have a different approach I think generally to the role of government as it relates energy, as well as other aspects of our economy, and it flows from a growing perspective I have throughout my life and frankly, during this campaign about the power of individuals as opposed to government."

Romney frequently discusses the need for an "all-of-the-above" energy strategy, including more offshore drilling, hydrofracking, and coal production. He recently came under fire in Iowa, however, after his spokesman said the GOP presidential candidate would not support extending the production tax credit for wind energy, an industry that employs nearly 7,000 in the Hawkeye State.

[tafhdyd]

Romney touts cash advantage over Obama.

Typical rich white guy taunting the poor black guy. Classic GOP.

[Thinkbeforeyouwrite]

Yep it's time to donate again to the Obama campaign. It will be a small donation compared to the millionaires for Romney but at least I will die sometime in the future knowing I did all I could to keep R/R from power. The GOP has some strange attitudes toward women and do not see the UnAmerican aspect of suppressing the vote. That is not to mention how the rich will get richer and the struggling classes will get poorer if the GOP tax policy is enacted. Our environment too will suffer if the GOP cuts regulations on water and air quality. Lots to worry about if R/R get power.

[sharong62]

Yes, me too think! I am on ss and can't afford to give much but it's for a good cause! I totally agree with everything you said! And the stupid GOP forgets my generation is the biggest voting block there is! Who does R & R think we are going to vote for, the guys who want to slash ss and medicare or the ones who want to strengthen them? My vote is for the later! That is my tax money I paid in for 46 yrs. and they are not taking it and making it vouchers that will run me more for insurance! Any senior voting for R & R must be senile!!! Obama/Biden 2012

[CaptainSmollett]

Who do you think has suffered the most under Obama's presidency, the rich or the poor? The poor! So why would any rational working-class person want to continue wandering down that path of dispair? Think before you write.

[BFR50]

Obama has to eat his heart out because he is anti-American Oil Industry and they are going to give Romney some of that nice big oil money Barry wishes he had now that he is getting tapped out with his wild negative ad spending.

Funny though how he gave the British owned BP Oil a pass after all the damage they did with their record damaging oil spill on the east coast.