Campaign spokesman Kevin Madden said the former Massachusetts governor's "momentum is the result of his message, which is centered around changing the status quo and transforming Washington."

Not everyone was as upbeat.

Democratic National Committee spokesman Damien LaVera circulated an e-mail soon after the Romney campaign announced the numbers, pointing out that all that separates Romney and McCain is a $9 million loan.

LaVera notes that the main difference between Romney and McCain is the amount of "cash on hand," about $2 million for McCain and $12 million for Romney.

"Since Mitt gave himself $9 million, Romney is basically a $9 million check away from being in the same boat as McCain," LaVera said. "Mitt may be a glorified self-funder, and we all know self-funders don't win."

Jowers, though, said the loans Romney — a Boston businessman who reportedly is worth as much as $350 million — has made to his campaign have proven "money won't prevent him from competing. He'll do what it takes to get his message across."

Romney, not as well-known as his chief GOP competitors, has already aired more television commercials than all other candidates combined, mostly in the early caucus and primary states of Iowa and New Hampshire.

His take this time would be "a hugely successful story but for Obama's mind-blowing numbers," Jowers said. Because of campaign contribution limits — $2,300 in the primary — candidates benefit most from having large numbers of donors who haven't hit the maximum.

"The most efficient way to raise money is to tap people who haven't maxed out," Jowers said, noting Obama's 154,000 individual donors "show now he has a lot of people who still have a lot to give ... it's absolutely jaw-dropping."

But although he said Democrats may be more energized when it comes to making donations because they've been out of the White House for two terms, Jowers believes Romney can still benefit.

"If pragmatic Republicans are looking down the financial shotgun the two top Democrats are pointing at the electorate, you're going to want someone who can return fire," Jowers said. "Romney may be the only Republican who can raise and spend money like these two."

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