Obama campaign holds $110 million in cash

The Obama campaign spent more money than it raised in May, but is sitting on $110 million in cash, according to a Federal Election Commission filing on Wednesday.

Obama for America raised $39.1 million in May and spent $44.6 million. The $39.1 million makes up part of the $60 million, announced earlier this month, that the campaign raised jointly with the Democratic National Committee.

{mosads}Combined, the Romney campaign and Republican National Committee trounced that number, bringing in $76.8 million in May.

“We got beat,” Obama campaign manager Jim Messina said at the time, but some on the Obama team argued that it was a fluke due to an anomaly in the campaign finance laws.
May was the first month that donors could give to the joint fund set up between the Romney’s campaign and the RNC.

The pro-Obama SuperPAC Priorities USA pulled in $4 million in May, according to an FEC filing on Wednesday. That’s the group’s best month so far, but nearly equal to its total cash on hand.

Democrats are increasingly worried about the fundraising prowess of Republican-affiliated SuperPACs. Billionaire casino mogul Sheldon Adelson has pledged massive sums to various Republican-affiliated campaigns and SuperPACs, and even with Priorities USA’s strong fundraising month, its cash on hand will likely be small in comparison to Karl Rove-backed American Crossroads and Crossroads GPS.

This week, a lawyer for the Obama campaign filed a complaint with the FEC in an attempt to force Crossroads GPS to reveal its donors.

Obama campaign manager Jim Messina sent an email to supporters with a petition titled “Hell No.”

“The U.S. Fourth Circuit Court of Appeals affirmed last week that groups like the Koch brothers’ Americans for Prosperity and Karl Rove’s Crossroads GPS should have to disclose exactly who’s behind the millions of dollars they’re spending to influence this election,” Messina wrote.

“They’re going to try to avoid this for as long as they can. After all, they have a vested interest in being able to spend millions anonymously to influence our elections – many of the corporations and individuals funding their organizations don’t want their agendas to receive scrutiny from the press or the public,” he said. “We can make sure they don’t get away with hiding these donors – or their agendas. But it’s going to take a lot of us standing up, putting our foot down, and saying ‘hell no.’”


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