Schieffer on Romney's fundraising edge: "Money matters"

(CBS News) As the latest fundraising numbers reveal that Mitt Romney topped President Obama for the second month in a row in campaign donations, "Face the Nation" host Bob Schieffer said "the Obama people take this very seriously."

Simply put: "Money matters," Schieffer said Tuesday on "CBS This Morning."

Schieffer pointed to the Republican primary where Romney was able to use his financial strength to overcome challenges to his lead.

"I think the Obama people take this very seriously. Money matters. And all you have to do is go back to Republican primaries to see an example of that.

Look, every time that an alternative to Mitt Romney, sort of emerged during those primaries, Romney who had more money than the other candidates simply dumped a lot of negative advertising on 'em. That alternative went away just one after the other."

Although Romney raised $35 million more than President Obama in June, Schieffer said the president's campaign has spent more in advertising in key battleground states since April - $40 million to Romney's $13 million.

For more with Schieffer, watch the video in the player above.