President Obama out-raised Mitt Romney in direct donations in June, bringing in $46 million for the month compared to $33 million for his Republican challenger.

Obama won more direct donations even as the Romney campaign's combined effort with the Republican National Committee brought in a staggering $106 million over the same time period — besting Democratic efforts by some $35 million.

Under election finance law, candidates are restricted in how much can be donated directly to their campaign, but a greater total can be given to a joint committee with national and state political parties. That allows candidates to raise more cash from high-dollar donors, although it gives less flexibility to the campaigns themselves to direct how the money is spent.


The discrepancy between Romney's campaign fundraising and the huge haul brought in by his joint committee is potentially concerning for the presumptive Republican nominee. If Romney is tapping out high-dollar donors now, he could struggle to fuel his campaign closer to the finish line. And the Republican would like to see a larger groundswell of small-dollar, individual donors, traditionally a sign of growing momentum.

That being said, his joint committee's ability to rake in the cash, especially relative to Democratic efforts, remains an overall positive. And there are plenty of troubling signs for the Obama campaign, as well.

The president spent $58.1 million in June despite bringing in just $45.9 million, meaning his reelection effort ran a deficit of more than $12 million dollars for the month. And the president spent an whopping $32.2 million in television ads, along with $4.5 million in online ads, over the 30-day period. The Romney campaign, by contrast, spent $10.4 million over that period on advertisements.

The president's spending reduced his campaign's available cash-on-hand to $97.5 million at the beginning of July. The Romney campaign opened the month with $22.5 million cash on hand, a discrepancy largely explained by the spending — and fundraising uncertainties — of the contested Republican primary. A look at the combined cash-on-hand of Romney and the RNC compared to Obama and the DNC shows the Republicans with a $25 million advantage.

The Obama campaign also released a list of bundlers — supporters who help fundraise for the campaign — through the second quarter. Maryland Gov. Martin O'Malley and former DNC Chairman Terry McAuliffe were among those who helped raise over half a million dollars for the president.

Romney doesn’t disclose the names of his bundlers.