Amid a heavy barrage of advertising by opposing “super” political groups, President Barack Obama’s re-election campaign spent more than it collected in June. While outraised again by Republican Mitt Romney, Obama ended the month with a hefty $97.5 million in the bank.
June was the second consecutive month in which Romney brought in more money than Obama, finance reports filed Friday show. Romney’s money advantage prompted Obama’s campaign advisers to warn earlier this month that the president could lose the election if the financial disparity continued.
Obama tried to answer the super PACs supporting Romney by spending $38.2 million on television advertising. Romney spent less than a third of that – $10.4 million – on TV time.
CONTINUED at AP.