Fighting to keep his job, President Obama spent more money than he raised in May, and ended the month with a $109.7 million in cash reserves — a more than 6-to-1 advantage over his Republican rival Mitt Romney, federal reports filed Wednesday show.

Obama, who has been able to accumulate cash as Romney fended off primary challengers, spent three times more in May than he did in April, reflecting new investments in staff — a total of 703 campaign workers in May, up from 631 a month earlier — and the barrage of television commercials in battleground states that have touted his record and slammed presumptive GOP nominee Romney’s business career.

Nearly half of the contributions to Obama’s main campaign account last month came from donors who gave $200 or less, contributors he will need to tap again as he tries to match Romney’s fundraising, which surged ahead of Obama’s last month for the first time. A quarter of Romney’s May donations came in small amounts.

Romney and the Republican Party reported collecting $76.8 million in May, nearly $17 million more than Obama and the Democratic National Committee. The bulk of that, however, went to party and joint fundraising committees. Romney’s campaign raised $23.4 million, records show, while Obama’s raised $39.1 million.

Continue reading →