Obama And Democratic Party Have Twice The Cash Of Romney

WASHINGTON – President Obama and the Democratic Party possess more than twice the cash reserves of his Republican rival Mitt Romney, but his financial advantage is slipping as the general-election fight gears up.

Romney uses a 19th-century stone bridge to anchor his attacks on the president's stimulus.

WASHINGTON – President Obama and the Democratic Party possess more than twice the cash reserves of his Republican rival Mitt Romney, but his financial advantage is slipping as the general-election fight gears up.

Obama and the party ended April with more than $139 million in hand, reports filed late Friday with the Federal Election Commission show.

On the Republican side, Romney and the Republican National Committee have said they raised a combined $40 million last month as the party began uniting around its presumptive nominee and had stored $61.4 million in their accounts at the end of April.

Just a month earlier, Obama had held a 10-to-1 cash advantage over Romney. April's figures don't count the money that will be raised and spent by GOP-aligned super PACs and other groups to oppose the president's re-election.

Not counting party fundraising, Obama took in $25.7 million in April — about $10 million less than he raised in March.

So far, Obama has raised $233.5 million for his re-election, compared with $265.5 million at this point four years ago as a candidate.

News also emerged Friday that Romney has dipped into his personal fortune for the first time in this election.

He and his wife, Ann, have donated $150,000 of their own money to a joint fundraising committee whose proceeds are shared with his campaign, the national party and state committees. Romney, who is worth as much as $250 million, spent nearly $45 million of his own money to help fund his unsuccessful 2008 presidential bid.

Friday's report shows Obama's fundraising apparatus continues to be funded with help from donors who give in small amounts and can be tapped again for contributions in the months ahead. Slightly more than half of the money that flowed to his main campaign account last month came in amounts of $200 or less.

By contrast, about $1 out of every $8 he raised in April came from people who donated $5,000, the maximum a candidate can receive directly from an individual for the primary and general election. Those donors included Ford Motor board member Edsel Ford II and actor Robert DeNiro, who recently hosted a fundraiser that featured first lady Michelle Obama.

Romney had not filed reports Friday detailing his fundraising with the Federal Election Commission. Presidential candidates and many super PACs must do so by midnight Sunday.