Money race

MONDAY, JUNE 25, 2012

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The money chase is on in the American presidential race.

Actually it has been going on for some time now, but President Barack Obama has enjoyed a distinct advantage. At the end of March, in fact, he held a 10-to-1 advantage, the Wall Street Journal reports.

That is changing. Last month, the president spent more than he received in his re-election effort, and GOP candidate Mitt Romney is gaining.

As of May 31, the president and the Democratic Party counted $147 million while Mr. Romney and the Republican National Committee showed $107 million.

The president’s edge may be getting smaller or closing.

Republicans have been more successful than Democrats at attracting donations from outside political groups that can raise huge sums for elections.

One is Restore Our Future, a political action committee that gathered $5 million last month. It recently bought $7.6 million in air time on behalf of the former Massachusetts governor.

Other groups such as American Crossroads and Crossroads GPS raised $300 million for the Republican cause, and the U.S. Chamber of Commerce kicked in a cool $100 million.

Labor unions are expected to support the president, but Democratic donors generally do not spend as much as Republicans on outside groups. Priorities USA Action, the main Obama super PAC gathered $4 million last month for the cause.

The president’s re-election group thinks its strength is in motivating groups of voters and organizing them with a large field staff. The campaign staff is now at 703 individuals, the payroll at $2.6 million.

“We know that ultimately the more people we can get involved and the more supporters who take ownership of this campaign, the stronger we will be on Election Day,” campaign spokeswoman Katie Hogan told the Journal.

An American presidential campaign consumes many resources. For both sides, it is a huge undertaking.