Obama enjoys 10-1 financial edge over Romney

[steve2470]

http://www.google.com/hostednews/ap/article/ALeqM5jrh2IzK6iGrTWm2v35DdWq8WPguA?docId=175b7ef2e8af4714810d017cd59d5e25

WASHINGTON (AP) — President Barack Obama's re-election effort enjoyed a 10-to-1 financial edge over Republican rival Mitt Romney last month, out-raising the former Massachusetts governor by millions as Obama stuffed more than $104 million into his campaign war chest.

A nasty primary battle between Romney and his GOP rivals took a financial toll on his presidential campaign, which raised $12.6 million in March and left Romney with about $10 million in the bank by month's end. All told, Obama and the Democratic Party raised a combined $53 million in donations during that period, while Romney with his party pulled in about half of that.

Still, an anticipated fire hose of cash from major Republican "super" political committees and the Republican Party is likely to bring some financial parity to the general election, for which Romney only recently started collecting donations. Super PACs like American Crossroads and its nonprofit arm, Crossroads GPS, raised $100 million this election cycle, and the groups plan to flood the airwaves in coming months with ads critical of Obama.

Also helping Romney is the Restore Our Future super PAC, which reported an $8.6 million last month, largely from a handful of wealthy donors and some continued supporters. The group, for its part, spent more than $11 million on TV spots during the month, coming off a successful track record of battering Romney's GOP primary opponents with attack ads.

[Lionessa]

1. The double edged sword of that information is leaving me

bitchy about the fact that it even matters. Just imagine if all those contributions on both sides were funneled into restoring the middle and lower classes' incomes so that they could begin to spend again. Instead a few corporate media outlets and some campaign personnel. Not really spread very far.

[freshwest]

6. The amounts are only indicators of the amount of propaganda that spew forth. Numbers still matter.

But to overcome GOP election fraud, will as, Palast said since 2001, require massive turnout such as Obama got in 2008. It will have to be in a range that will overcome the disenfranchisement of millions of voters, like it did in 2008 when a lot of people had obstacles put in the way.

[Lionessa]

7. But it also assures that just like that last 3+ years, Obama will be well bought n paid for by

corporations, banks, and other of the 1% selfish bullies.

[freshwest]

8. He's not so well bought and paid for that he hasn't been attacked by the GOP relentlessly. n/t

[Lionessa]

10. They don't care if he's bought and paid for, it's part of the circus the real PtB throw

our way so we're so busy being against each other we don't notice the man behind the curtain, so to speak.

You're behaving exactly as they want you to. All value is related to dollars, and you're more worried about repubs than the 1%. I'm not saying I have an answer to the problem, and I'll do what I can to assure fewer repubs are in office, but suggesting that just because the game's afoot, either us have an actual chance to effect the game in the long run is foolish in today's political climate in the USA. No matter blue, red, or purple, everything is still heading the wrong way at a pace that is overwhelming; from privacy, to personal rights, to torture and imperialism, ... . All except very, very few politicians on both sides are simply bought and paid for, and worrying about whether Obama's or Romney's warchest is larger, plays right into the idea that money is needed to buy an office, and all the obligations that go with that transaction.

[wandy]

2. I would not feel too comfortable just yet.....

The 'big money' is just beginning to understand that they won't nave a nice compliant St.santourm theocracy to do their bidding.
Soon they will come around to understand that the Romney-2012 auto-bot is their best investment.
The Koch branch of the US government is still on the short take to protect their Walker puppet.

One dollar = one vote.

We have a hell of a fight on our hands.

[Purveyor]

3. He is going to need every dime of it, imo. eom

[WI_DEM]

4. that doesn't count Rove's pac & other pacs supporting Romney

[freshwest]

5. And all the unaccounted for USCoC money. Used very effectively in 2010.

[Johnny2X2X]

9. Use the Super PACS

The message will be clear, regular people wont be donating to Romney, he'll be relying almost exclusively on the Super PACS funded by a hand full of Millionaires and billionaires to stay competitive. Obama's people can use this, they will have millions of small donors to represent, Romney will have a few dozen ultra rich people he is working for.

Also, watch like a hawk for collusion between the Super PACS and the Romney campaign. It is sure to happen and it could be explosive to expose it before election day.

[Tarheel_Dem]

11. But the NYT says his big money donors have fallen off "steeply".

They don't bother to point out that at this time in '08, Pres. Obama was locked in a contentious primary battle with Hillary. So the comparison is laughable on its face. Some, of course, have latched onto that as some sign that Obama's lost his base.

[ellisonz]

12. Spend it on the Congressional races!