This news comes as no surprise considering the federal budget deficit.
President Barack Obama spent more on his re-election effort last month than he raised, ending May with $109.7 million cash on hand, according to U.S. Federal Election Commission reports filed today.
The $39.1 million his campaign took in was outpaced by $44.6 million it paid for television advertisements, employees, offices and other expenses, the reports show. The spending rate is a reversal from the past three months, when the campaign was taking in millions of dollars more than it was spending.
The Obama campaign still has quite a bit more money in the bank than the Romney camp, but that doesn’t stop them from complaining about Romney’s fundraising.
Update: Linked by Heritage Action – thanks!
Good, burn that cash. Obama needs to spend more money now just to stay even with Romney. Some groups who supported him in the 2008 election are taking a blow this year since they have found out how anti-business he is. The unions also have found out when it comes to jobs versus the environment the unions lose out to the Sierra Club.
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He didn’t take in as much money because the unions blew a huge wad in that fiasco in Wisconsin.
He can combine the Clinton campaign experience with what he’s doing to economy: get money from overseas.
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