MITT ROMNEY, RNC had plenty of cash for October – POLITICO
By MB Snow at October 21, 2012 | 12:20 am | Print
By DAVE LEVINTHAL and TARINI PARTI | 10/20/12 3:41 PM EDT –
Mitt Romney’s presidential campaign committee entered October at a significant financial disadvantage against President Barack Obama’s committee, but was boosted by the overwhelming fundraising success of the Republican National Committee.
Together, the Romney campaign and the RNC boasted about $146 million cash on hand going into October, with the RNC accounting for about $82.6 million of it, federal filings show.
The DNC reported a comparatively paltry $4.6 million in the bank and $20.5 million in debt. Obama for America reported having nearly $100 million as of Sept. 30.
But presidential campaigns do not directly control money that belongs to national parties, and therefore, cannot use it as they please. Not all national party money goes to overtly benefit presidential candidates, either.
Romney spokeswoman Andrea Saul expressed confidence in the campaign’s finances, saying simply, “Our campaign has the resources and organization to win.”
In September, the Romney campaign spent $65 million against the $77.7 million it reported raising for the month. Obama’s campaign raised $126 million last month, spending $115.5 million.
