Mitt Romney beats President Obama in July fundraising, tweaks him over spending

Published: Wednesday, Aug. 22 2012 12:00 a.m. MDT

Obama is "so interested in doing the right thing that he thought other people would be interested in him for doing the right thing, and he thinks that's all that's needed," the donor said.

The president has aggravated both flanks to some degree, Jay Cost wrote at The Weekly Standard. With only 46 percent of Democrats and 49 percent of liberals "strongly" approving of the president's job performance and the business community backing off, the campaign war chest "looks to be a fraction of what the total Republican campaign (from Romney to the RNC to super PACs) will bring to the table this fall."

Some of Obama's top 20 donors from 2008 that do not make the top 20 list in 2012 include Citigroup, General Electric, Goldman Sachs, JPMorgan Chase & Co., Latham & Watkins (L.A. law firm), Morgan Stanley, WilmerHale LLP (D.C. law firm) and UBS AG.

In a new e-book titled, "Obama's Last Stand," Politico's Glenn Thrush suggested that second-guessing over super PACs hurt the president's outside fundraising, while "Obama's refusal to cultivate the party's biggest checkbooks in a personal way the previous three years was making it hard enough to gain traction in fundraising for his own campaign."

On the Romney side, the addition of Rep. Paul Ryan, R-Wis., helped give the campaign a boost, with Romney's campaign press secretary Andrea Saul reporting that the campaign raised $3.5 million online in the 24 hours after the VP announcement, and a total of $7.4 million in 72 hours.

During his 2008 presidential campaign, Obama raised roughly $750 million, surpassing all of his White House opponents and the amount of money raised by all of the presidential candidates combined in 2004. The totals came after Obama became the first candidate to opt out of the public financing system, which then enabled him to raise as much money as possible.

Despite the fundraising and spending thus far, Romney and Obama are neck-in-neck in polls, with Gallup and Rasmussen putting Romney slightly ahead and AP-GfK putting Obama ahead.

Nate Silver of The New York Times' FiveThirtyEight cautiously cites a trend of Romney leading in swing state polls, saying that "Mr. Romney has made up some distance in the swing states."

Meanwhile, University of Colorado professors Ken Bickers and Michael Berry have used a model — which they say has correctly forecast every winner of the electoral since 1980 — to predict the winner of the 2012 contest. The new president, they say, will be Mitt Romney.

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