Obama Bracing to be Outspent by GOP Rival Romney
Republican Mitt Romney could raise more campaign money than President Barack Obama.
If that happens, Obama would be the first incumbent president to raise less campaign money than his challenger. It also would be a sobering reality for Obama. He was the first modern candidate to forgo public campaign funding and he went on to raise a record $745 million in 2008.
That's not to say Obama is broke or even certain to trail Romney in overall fundraising. And if he lags in the money race, it's unlikely to become a determining factor in the election.
While campaigns need money to pay for staff, travel and TV ads, money alone doesn't win elections when both candidates are financially competitive.
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