It’s All About The Money; Romney Continues To Outpace Obama

This election is generally considered to hinge upon the economy and whether it manages to improve enough before the election to give Obama four more years. An improved economy would give American families more money in their pocket and put a smile on their faces.

Another important factor is, to put it simply, money. The election, if previous trends continue, is probably going to be, if not the most, then one of the most expensive campaigns to date in American politics. And right now, it’s looking good for Team Romney/Ryan:

Republican presidential candidate Mitt Romney, who is out-fundraising President Barack Obama by impressive margins, is attracting thousands of donors this summer from traditionally Democratic areas of the United States, collecting millions of dollars in even progressive communities from New York to Los Angeles, according to an analysis by The Associated Press of new campaign data.

Donors from tony neighborhoods of Manhattan to even the famously liberal Castro neighborhood in San Francisco helped Romney and the GOP outraise Obama by more than $25 million in July, beating him and the Democratic Party in contributions for a third consecutive month, the AP analysis showed.

One big reason for Obama’s victory in the last election was the fact he managed to raise amazing amounts of cash, and declined the public funding option which would place restrictions on his campaign. John McCain on the other hand accepted public funding. This time around Romney isn’t only giving Obama a fundraising match, he’s winning it.

In previous elections, at state and national level, Obama has either faced somewhat flawed candidates (like Alan Keyes) or had a significant cash advantage (against McCain). It will be interesting to see how Obama fares against an opponent on a level playing field.