Back in the heady days of 2011, while the GOP seemed mired in a multi-candidate primary campaign, the Obama campaign boasted that it was on track to raise over $1 billion for the 2012 election. Reuters breathless reported at the time that Obama's campaign would be a "bigger, slicker machine likely to dwarf that of his eventual Republican opponent." As with most things, Obama's rhetoric has failed to match up with reality.
This morning, the Obama campaign reported the campaign and the DNC had raised a combined $71 million in June. It's their highest monthly total to date, but, unfortunately for the Democrats, falls far short of Romney's June fundraising haul. The Romney campaign reported this morning that, together with the RNC, it had raised a whopping $106 million in June--$35 million more than the Democrats.
Romney first started beating Obama's fundraising in May, but June's numbers show the financial disparity is growing. Romney and the RNC had over $160 million cash-on-hand at the end of the reporting period.
Its possible that Romney's fundraising could go quite a bit higher. In the 24 hours after the Supreme Court's decision on ObamaCare, the Romney campaign reported receiving over $4 million in donations. In June, 94% of all donations received were under $250. As grass roots activists realize that the only path to undo ObamaCare lies through the election of Romney, expect a surge in the number of small dollar donations to the campaign.
Given the powerful assist Obama receives from the news media, his campaign can survive being out-spent by Romney. But, it's a significant decline in fortunes for a campaign that used to arrogantly boast about its fundraising juggernaut. In Obama's world, his campaign is an overwhelming political force that can steam-roll through all opposition. In the real world though, his campaign spams potential donors with increasingly desperate pleas for money. The November election, fortunately, will take place in the real world.