Despite June spending, Obama has $97.5M in bank
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WASHINGTON (AP) — President Barack Obama's presidential campaign spent more than it raised in June, illustrating both the fierce pace of campaigning during the month and his slightly weaker fundraising position.
Finance reports filed Friday show Obama's campaign listing receipts of $46 million in June and total spending of $58 million. The campaign also listed more than $97.5 million in the bank going into July.
Republican challenger Mitt Romney is reporting $33 million in receipts and $27.5 million in spending for June. His cash on hand is $22.5 million.
The two filings represent only a window into the month's financial picture, as both candidates raise money jointly with their respective political parties. The Republican National Committee reports $89.4 million in the bank. The Democratic National Committee has not yet filed its report.
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