Romney leads in cash on hand by $62M

[cash__whatiwant]

When the Romney campaign announced its July fundraising haul of $101.3 million, it also put out this impressive cash-on-hand figure for the campaign, the RNC and their joint fundraising account: $185.9 million.

The Obama campaign shared its full fundraising information this afternoon and came up with this combined cash-on-hand figure: $123.7 million.

That puts Obama at an imposing disadvantage, especially for an incumbent president, and underscores (as if it needed underscoring) the pressure on Democratic donors to ante up for the final months of the race.

http://www.politico.com/blogs/burns-haberman/2012/08/romney-leads-in-cash-on-hand-by-m-132619.html

[bkkyosemite]

1. Where is Buffet when you need him .....

[Liberal_Stalwart71]

2. Better question: With all this money, shouldn't Robme be up by commanding leads? He's not.

Ask yourself why. Why? Because even money is fungible and carries with it diminishing returns.

I live in Maryland--a very BLUE state, thank goodness. However, we get all the ads targeted to Virginia. Well, every other ad is a pro-Robme ad. So, shouldn't Robme therefore be winning Virginia by sizable margins? He's not.

Yes, Robme has the money, but people may get so turned off by the money that they begin to tune out.

Our job? To get people registered and out to the polls on Election Day.

[Cha]

3. Thank you,

Liberal_Stalwart!

[Hey Jude]

5. Well, yesterday he spent $221 million to buy into a Tel-Aviv based

Israeli insurance company, foreign investments doncha know.

And lately he's been dumping and cutting back on the American municipal bonds that our local governments rely on for financing.

Maybe he knows something that the rest of us are just guessing at.

http://www.bloomberg.com/news/2012-08-19/clal-rises-as-buffett-s-berkshire-to-buy-unit-tel-aviv-mover.html

http://online.wsj.com/article/SB10000872396390443855804577601413630604118.html

[Drunken Irishman]

4. Obama is not at a disadvantage.

God I hate the way the media spins stories.

There is no disadvantage here because Obama still has a healthy sum of cash on hand. I know people don't believe this, but there reaches a point where money ceases to be an advantage in the race. You can only cut so many ads and hold so many rallies and it doesn't matter how much cash you have on hand, if your opponent has a significant amount in return, the advantage becomes remarkably tiny. Obama is not in trouble financially. Just because Romney is raising a lot of cash doesn't mean squat when, in the end, Obama is still raising a lot of cash.

Think of the movie Brewster's Millions. He had to spend $30 million in 30 days to win an inheritance of $300 million. Yet he finds it's hard to spend that much money in a short amount of time. Romney could out-raise Obama by $100 million, but if Obama is raising a healthy number himself, he's still going to be right there running ads in swing states, campaigning in swing states and doing just what he did four years ago.

So, the media needs to get off this obsession that Romney is somehow crushing Obama in the money race. What Romney raises is moot - it all comes down to what Obama raises in response and Obama is raising a decent amount himself to keep things going. It's not about how much you raise, but whether you're raising enough. Like I said, you can only cut so many ads and hold so many rallies. There isn't an infinite amount of things you can spend that money on and sooner or later, you reach a point where you're bringing in quite a bit more than you'll ever spend. Obama saw that in '08 and Romney is seeing that in '12. No big deal. But the media will make it a big deal and a lot people will freak out because of it.

[davidpdx]

8. Very true

And using that same theory at some point all of the ad buys until the election will be gone soon for TV between local, state and national candidates. I would think that will happen earlier this year due to more money allowing candidates to buy more spots earlier. The window is going to start closing soon. It is impossible to show more ads then there is ad time available.

[Drunken Irishman]

9. Exactly.

It's not like we have a half-year between now and the election. We're a little over two months away. If this was happening in March or April, I'd be nervous. But not in August.

Obama is doing just fine.

[BlueinOhio]

6. Rmoney

I'm begining to think he is his own superpac. With those offshore accounts it would be easy to fund himself. They say his twitter account is made up with fake accounts. So why not his donors.

[ThoughtCriminal]

7. This is one of those Twilight Zone type episodes

The Devil tells him he can have unlimited campaign funds...

But after signing the deal, he finds out he can only use it to buy sewage.

[Floyd_Gondolli]

10. All Obama needs is enough to compete

He doesn't need to match the "Koch Brothers GOP, Inc." dollar for dollar. Which is good, because that's not going to happen.

All he needs is enough to be competitive in the states they want to compete in. Evidence points to that not being a problem so far. The presidency also carries with it some gravitas that all the money in the world can't buy.

And as many have said on the pages of DU there comes a point where carpet bombing ads becomes a game of diminishing returns.

There's plenty to worry about with their voter suppression efforts, however.