Yahoo-The Ticket reported:
President Barack Obama’s campaign spent more than it took in over the month of May despite his frenetic fundraising schedule, leaving the massive operation with just shy of $110 million dollars cash on hand against $115 million one month earlier.
The embattled incumbent scooped up a hair over $39 million dollars but spent nearly $44.6 million, according to a formal filing with the Federal Election Commission. A more detailed breakdown can be found here.
The figures followed the release of data showing Republican standard-bearer Mitt Romney outraised Obama and Democrats in May—the first time the former Massachusetts governor topped the president in the 2012 cycle.
A senior Obama campaign strategist, briefing reporters on condition of anonymity, said earlier in the day that Romney would best his earlier total — and predicted that the Republican’s hauls, plus unrestricted super-PAC cash, would mean “we’re going to be the first incumbent outspent.