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Showing posts with label Spends. Show all posts
Showing posts with label Spends. Show all posts

Tuesday, July 3, 2012

Obama campaign spends more in May than it raises

WASHINGTON – Fighting to keep his job, President Obama spent more money than he raised in May, and ended the month with $109.7 million in cash reserves — a more than 6-to-1 advantage over his Republican rival Mitt Romney, federal reports filed Wednesday show.

The campaign of President Obama, who attended Tuesday's G-20 summit in Mexico, raised $39.1 million in May. By Carolyn Kaster, AP

The campaign of President Obama, who attended Tuesday's G-20 summit in Mexico, raised $39.1 million in May.

By Carolyn Kaster, AP

The campaign of President Obama, who attended Tuesday's G-20 summit in Mexico, raised $39.1 million in May.

Obama, who has been able to accumulate cash as Romney fended off primary challengers, spent three times more in May than he did in April, reflecting new investments in staff — a total of 703 campaign workers in May, up from 631 a month earlier — and the barrage of television commercials in battleground states that have touted his record and slammed presumptive GOP nominee Romney's business career.

Nearly half of the contributions to Obama's main campaign account last month came from donors who gave $200 or less, contributors he will need to tap again as he tries to match Romney's fundraising, which surged ahead of Obama's last month for the first time. A quarter of Romney's May donations came in small amounts.

Romney and the Republican Party reported collecting $76.8 million in May, nearly $17 million more than Obama and the Democratic National Committee. The bulk of that, however, went to party and joint fundraising committees. Romney's campaign raised $23.4 million, records show, while Obama's raised $39.1 million.

The Republican National Committee, now an extension of Romney's campaign, ended May with $60.8 million in the bank — cash reserves that it can deploy to help build a get-out-the-vote for the former Massachusetts governor. That's twice the amount of cash reserves held by the DNC.

By Evan Vucci, AP

Mitt Romney's campaign raised $23.4 million in May.

Obama campaign officials have raised the specter of being outspent by Romney and his supporters, as wealthy Republicans continue to write big checks to conservative super PACs and non-profit advocacy groups.

Restore Our Future, a super PAC helping Romney, took in nearly $5 million in May, besting the $4 million that a pro-Obama group, Priorities USA Action, said it collected last month.

Roughly $1 out of every $5 Restore Our Future collected in May came from three Dayton companies that share an address. The three Ohio firms — CRC Information Systems Inc., Fairbanks Properties, LLC and Waterbury Properties, LLC — share a post office box with Reynolds and Reynolds, a Dayton company that provides services to auto dealers, federal records and company websites show.

Reynolds and Reynolds CEO Robert Brockman donated $5,000 to Romney's campaign in April, federal records show. Brockman did not return a telephone call Wednesday afternoon.

The $1 million in contributions from the three Ohio firms underscore the ability of wealthy donors to contribute large sums to influence the election. Recent court rulings and federal regulations have created a two, parallel campaign-finance systems - one in which individual donors can give no more than $5,000 directly to a candidate for the primary and general election, and another that allows donors to pump millions of dollars from their corporate treasuries into super PACs and non-profit groups that can raise and spend unlimited amounts to influence the election.

Other large donors to Restore Our Future include Frank VanderSloot, an Idaho businessman singled out recently by Obama's campaign after his company donated $1 million to the super PAC. VanderSloot, cast as a victim of harassment by conservatives, gave another $100,000 to the super PAC in May.

Executives at The Villages, a Florida retirement community, gave more than $400,000 last month to the pro-Romney group.

The reports offered signs that more Republicans are rallying around Romney since he has clinched the nomination. For example, Trevor Rees-Jones, a Dallas oil and gas executive who gave $100,000 last year to a super PAC aiding Texas Gov. Rick Perry's failed presidential bid, opted to donate $100,000 to the pro-Romney super PAC May 8, records show. He did not return telephone calls.

Billionaire casino executive Sheldon Adelson reportedly has donated $10 million to Restore Our Future, but that contribution has not yet been disclosed in filings with the Federal Election Commission.

Among political groups targeting congressional races:

•A super PAC established by Houston construction company owner Leo Linbeck III spent $642,181 last month to defeat incumbent congressmen in party primaries. The lion's share of the Campaign for Primary Accountability's war chest comes from Linbeck himself, who contributed $260,000 last month to bring his total contributions to $740,000. He has also loaned the super PAC $390,000.

The super PAC has taken credit for unseating a number of incumbents already, including Reps. Tim Holden, D-Pa.; Don Manzullo, R-Ill.; Silvestre Reyes, D-Texas; and Jean Schmidt, R-Ohio.

•FreedomWorks for America, a Tea Party-affiliated super PAC that spent more than $777,000 this year to oppose Utah Sen. Orrin Hatch and May with $1.2 million in cash, ahead of a June 26 GOP primary that pits Hatch, a 36-year incumbent against former state senator Dan Liljenquist.

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Tuesday, March 13, 2012

Santorum Says Campaign is 'Burning Through Our Savings'; SuperPAC Spends in South

PELHAM, Alabama-Rick Santorum asked the Alabama crowd here to deliver him a win in this state Tuesday and pitched to them he's a better choice than either of his opponents because of his working class background and blue collar roots.

"I've basically given up all my sources of income almost a year ago. We're burning through our savings," Santorum said to the enthusiastic crowd at a conference center. "People say, 'Well did you ever think you'd get this long and have to worry about all the bills you'd have to pay? Well, I was praying I'd get this long, now I have to pray we can somehow or another stretch the budget a little bit more."

He continued the theme of a candidate who is more in touch with his supporters and the electorate because he doesn't have the fortune of his opponents or other politicians. "We need a candidate who can go out and deliver a message when it comes to energy who maybe doesn't own oil wells, but his grandfather was a coal miner so I was in the energy industry too," Santorum said to the crowd of about 200. It wasn't clear who he was referring to whether it be former President George W. Bush, whose family was in the oil business or just trying to portray himself as the hardscrabble underdog to Mitt Romney's wealth. The campaign did not return requests for clarification. According to his tax returns, Santorum made about one million dollars last year.

Despite the former Pennsylvania senator's need for Newt Gingrich to abandon his bid-an aide to the former House Speaker said this week Mississippi and Alabama were must wins-he hardly mentioned Gingrich and focused almost completely on President Barack Obama and Romney.

He told voters they need a nominee "who can go out in the general election and not just spend millions and millions of dollars trying to beat up the other person" and even insinuated the press favored the former Massachusetts governor because he will not be able to defeat Obama.

"Every time we've nominated a moderate in the last 30 or 40 years, we lost. Every time so now you know why the media's for him," Santorum said, referring to Romney. "They don't want him to win. You know who they want to win."

Santorum's superPAC "The Red, White, and Blue Fund" announced Thursday they were running a negative ad jabbing both Romney and Gingrich in Mississippi and Alabama. They also called for Gingrich to get out of the race Wednesday to try and consolidate the more conservative electorate around one of the GOP candidates. The fund says the ad buy is "well over half a million dollars."

If Santorum beats Gingrich here and in Mississippi it could very well be a fatal blow to the speaker's candidacy, although Gingrich has stressed he is going all the way to the convention. "If you elect, here in Alabama, and I'll tell you what, a conservative will be nominated by the Republican party in the next few months. And if a conservative is nominated, we will win the general election," Santorum said.

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