(CNN) – President Barack Obama's re-election team increased their war chest by roughly $20 million in March, bringing the incumbent Democrat's cash on hand funds to just over $104 million, more than ten times the amount his likely Republican challenger Mitt Romney declared in federal filings Friday.
The financial disclosure from Obama's campaign comes after the announcement Monday his team had raised $53 million in the month of March, an increase of $8 million from the month before. $35 million was raised by Obama's campaign, and the remainder was brought in by the Democratic National Committee.
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In filings with the Federal Election Commission on Friday, Obama for America also recorded spending over $15.5 million in March. Romney's campaign filings show the GOP candidate's organization spent $10.3 million.
The money raised goes to the Obama Victory Fund, which is divided between the Obama re-election campaign, the Democratic National Committee and affiliated committees. Obama broke all records by raising nearly $750 million during his 2008 campaign for the presidency.
Earlier Friday, Romney announced he had raised $12.6 million in primary funds in March, bringing the total amount of primary funds raised by the Republican candidate over the past year to $87 million.
Romney's campaign noted they have $10.1 million cash on hand, and that the former Massachusetts governor, who has an estimated net worth of $190 million, had not made any personal loans to his campaign.
In their release, the Romney campaign said that 84% of all donations received through the end of last month were $250 or less. Monday the Obama campaign announced that 97% of their donations in March were for $250 or less.
Donations made to Romney's campaign in March came amid major shifts in the race for the 2012 GOP nomination. Romney entered the month in a fierce competition for delegates with former Pennsylvania Sen. Rick Santorum. After winning contests on Super Tuesday, as well as taking Illinois' primary on March 20, Romney emerged as the candidate most likely to clinch the GOP nomination.
Santorum ended his presidential bid April 10. Filings for the month of April, which will be filed with the FEC in mid-May, will better reflect a general election contest between Romney and Obama.
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If Obama is sure to win, why does he keep taking money from the middle class? You would think he would tell the people he says he is trying to help, to keep their money and spend it on something they need.
But No, he will take every penny out of our pockets and we'll thank him for it.
I have said it before, Why do I have to pay for you to have the same things I work for..........
Of course my comment is awaiting moderation.
I mentioned the saviors name........
Wow it's amazing how much money the president has now to buy the presidency. Maybe the dems should stop whining about romneys money and use this money to pay some more stimulous.
I guess they money is all obama has now to get re-elected because his record sucks. sad that the presidency now will bebought by hollywood morons and idiots like bill maher.
All I say Obama12
The 99 er's are sending money.. that means that more people will vote for Obama... I know I am :)
Obama will need every penny of his war chest to provide the biggest smoke and mirrors defense for his failed presidency. So much for hope and change from the great divider. Instead we get debt as far as the eye can see and a big government nanny state and a country divided to the core. Way to go Barry O.
Good but the Crotch brothers are sitting on their offshore billions waiting to dump it. Too bad it will be a wasted effort.
The right wing U.S. Supreme Court hasn't yet instructed their Super PAC buddies to kick in mega bucks for Romney's campaign nor has Clarence Thomas' Teabagger wife yet rallied her Kool Aid entourage behind Romney.
It really does not matter to most of us. It is like our National Debt-it will never be paid so it matters not how high they raise the debt's ceiling. So it is with the campain money.Most likely he will win if Romney runs against him even if he has less money.Even if Mitt won -it would be just one Globalist replacing another and we all get less. Ron Paul on the other hand , oh, there is a glimmer of hope for the better-he needs the money.
That is great the overwhelming majority wants Obama, but Romney has the super rich. This article does not account for his super pacs. So far it is looking like this presidency will be bought and paid for by big business. It will be a country for the few, not for the people by the people. Just like every third world country and what we fought against in the revolutionary war.
Wheres the story about Roves superpac raising 100 million for the GOP. The Pres. is doing what any one else would do prior to election, getting funds to run a campaign.
Of course his war chest has tons of money in it. He stopped governing this country months ago and has been spending the bulk of his time campaigning. He stops every now and then to let his media allies help the cause by pushing ridiculous gimmicks like the Buffet Rule and helping to divide America with his class, race and gender wars to energize his voting bases. The middle class he claims to care about will dangle in this recession until after Novermber
No surprise Obama has a lot of cash. He basically stopped doing his job in January, 2011 and started campaigning and fund raising on the tax payers dime. Obama is a joke and any fool that would vote for hime is an even bigger fool.
I think mittens make vp as "Ayatolla Khomeni".
"If Obama is sure to win, why does he keep taking money from the middle class?"
What money has he taken? You rightiwng hatemonkeys are insane with the lies you believe.
"He stops every now and then to let his media allies help the cause by pushing ridiculous gimmicks like the Buffet Rule and helping to divide America with his class, race and gender wars to energize his voting bases."
BZZZT! Wrong as usual. President Obama, along with Ron Paul, are the only two candidates to propose actual deficit reduction plans. Rmoney and Paul "The Undertaker" Ryan have made deficit INCREASE proposals. And where do you get your nonsense about dividing America? That's been the specialty of your GOBP cult and the hate radio propgandists on the right,
"The obama administration will go down as the most corrupt in our history."
Wrong again. Reagan and Bush set records for corruption that may never be matched again.
These are the historical facts...
George W. Bush inherited a strong economy, a budget surplus, and a nation at peace.
Eight years later, he left Obama with a shattered economy, a trillion dollar deficit, and two useless wars.
Obama saved the country from another Great Depression, rebuilt GM, reformed healthcare, reformed Wall Street, doubled the stock market, created 8 straight quarters of GDP growth, created 22 straight months of private sector job growth, got Bin Laden, got Gaddafi, and got us out of Iraq.
Obama has done good job. Better than Bush and certainly better than Mitt Romney given his crappy record as governor of Mass.