WASHINGTON -- President Barack Obama's reelection campaign is sitting on a major cash-on-hand advantage over his likely opponent, Mitt Romney. The president raised $35 million in the month of March alone, while spending $15.6 million during that same time period.
The rate of donations to expenditures left the president's team with $104,096,193.91 cash on hand -- a huge total, especially when compared to the Romney campaign's $10.1 million.
In addition to the money raised by the Obama campaign, the Democratic National Committee raised $18 million during the month of March (giving the allied forces a combined total of $53 million). Romney, to this point, has been unable to take advantage of any joint fundraising operations with the RNC. With the Republican primary now all but formally concluded, the expectation is that his numbers -- both number of donors and their dollar amounts -- will rise dramatically. Earlier this week, in fact, the Romney campaign projected that it would raise roughly $800 million for the fall campaign.
Obama, it appears, is being helped by recruiting more big-money donors to the fold. The campaign listed 117 bundlers who raised over $500,000 during March, as well as 141 bundlers who helped raise between $200,000 and $500,000 during that same month.
Of those listed as having bundled for Obama in March, 83 had never bundled before. There were, additionally, 56 new bundlers in the $500,000 club, though those individuals may have bundled less in prior months.