Mitt Romney’s cash advantage over President Obama grows

Mitt Romney’s cash advantage over President Obama grew to more than $60 million last month, according to reports filed Monday with the Federal Election Commission.

The joint fund-raising committee for Romney, the presumptive Republican presidential nominee, claimed cash on hand totaling $185.9 million at the end of July, compared to $123.7 million for Obama’s joint committee.

The candidates’ joint fund-raising committees include their own campaigns, their parties’ national committees and other affiliated committees.

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Romney’s wide lead represents a rapid comeback. In March, with the Republican primary still raging and Romney raising money without a joint committee, Obama enjoyed a 10-to-1 advantage in cash on hand.

Romney teamed up with the Republican National Committee on April 4 and began to close the gap that month. In May, he became the first candidate since Hillary Clinton in the fourth quarter of 2007 to outraise Obama in an FEC filing period but still trailed the president in cash on hand.

Then Romney raised more than $100 million in June and seized a slight edge in cash on hand for the first time. In July, Romney became the first presidential candidate to raise more than $100 million in consecutive months and opened up a $62.2 million lead in cash on hand, as Obama’s total dipped because he spent more than he took in.

The president’s joint committee raised $75 million last month but spent $91 million.

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