Why Mitt Romney raised more money than President Obama in May (+video)(Read article summary)
Mitt Romney raised $16 million more in campaign cash in May than Obama did. That's a reversal of fortune from April, when Obama prevailed by $11 million. Here are three reasons for the big shift.
Mitt Romney and the Republican Party easily raised more cash in May than did President Obama and the Democrats, $76 million to $60 million, according to figures released Thursday by the presidential candidates’ campaigns.
It’s possible that this gap will appear narrower after the campaigns file official reports with the Federal Election Commission later this month. It’s unclear, for example, what percentage of Mr. Romney’s haul went to party committees that by law must spend some of their money on congressional elections.
But the $16 million gap remains large enough to call into question Mr. Obama’s reputation as the master fundraiser of the presidential race. And it cheered Republicans who have seen Romney quickly gather the party around him and begin to mount an aggressive general election campaign.
How did Romney do it? After all, in April the presumptive nominee’s campaign raised only about $11 million, to $25 million for Obama. (These figures don’t include party committees.)
For one thing, Romney’s actually pretty good at raking in campaign cash. With deep ties to the finance industry and a prosperous Mormon constituency, he was easily the richest of the GOP contenders throughout the long primary campaign.
Second, that primary campaign is over. The flow of Republican contributions had been divided among numerous candidates. That flow has now coalesced into a single stream pouring into Romney’s coffers. Without the need to contest the remaining primary states, Romney had lots of time to hold May fundraisers.