The moderate-liberal commentator writes: "On a recent conference call with potential donors, President Obama said: 'If things continue as they have so far, I’ll be the first sitting president in modern history to be outspent in his reelection campaign.' The president then asked his donors 'to meet or exceed what you did in 2008.'"
Mr. Williams continues: "That is a pretty high bar to clear. In 2008, Obama shattered all campaign fundraising records by bringing in more than $700 million. His GOP opponent, John McCain, raised only $316 million, giving the Democrat a tremendous advantage. It is a different ball game this time around. At the moment, President Obama’s campaign has $170 million in the bank while his GOP opponent, Mitt Romney, has $144 million. But the Romney money machine is gaining momentum. It raised more money than the Obama campaign in May and June. Romney’s donors also appear to have more money: Only 17 percent of Romney’s donations have been less than $200, compared to 40 percent of Obama’s donations that came in at less than $200."
More commentary from Mr. Williams: "The big money going to Romney also has more ways than ever to avoid limits on donations. Keep in mind this is the first presidential election since the Supreme Court’s ruling in Citizens United, which opened the floodgates for unlimited contributions to outside groups and created the super-PACs. Since January 2011, the GOP super-PACs have collected $228 million while Democratic super-PACs have deposited only $80 million. 'Restore Our Future,' the super-PAC supporting Romney, now has $21.5 million in cash on hand. The super-PAC supporting the president, 'Priorities USA,' has only $2.7 million in cash on hand. So the total dollars behind Romney already exceed the total dollars behind the president. And the money differential is showing up in the television advertising wars."
Juan Williams Op-Ed: Obama Camp Facing Cash Crisis
