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That’s not to say Obama is broke or even certain to be outspent. And if he is, it’s unlikely to become a determining factor in the election. While campaigns need money to pay staff, finance travel and buy television ads, money alone does not win elections when both candidates are financially competitive.
From the days when Obama and Romney formally announced their campaigns, Obama and his affiliated party groups have raised $552.5 million, compared with Romney’s $394.9 million. The nonpartisan Sunlight Foundation broke down the numbers and noted that Romney would need to bring in $39.5 million more than Obama each month to exceed his total.
That leaves a steep climb for Romney, but not an impossible one. Conservatives who were skeptical of Romney now are rallying behind the GOP nominee after a topsy-turvy primary season that saw their favored candidates come up short. Polling shows Republicans eager to vote Obama out of office.
Romney’s vice presidential selection in the coming weeks will create additional buzz and likely unleash a fundraising wave for the final months of the campaign. So, too, will the August week he accepts his party’s nomination in Tampa.
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