Republican presidential front-runner Mitt Romney will report raising between $15 million and $20 million during the last quarter, according to campaign aides, far outpacing his conservative rivals for the White House but still placing him far behind President Obama’s cash haul during the same period. The fundraising success positions Romney well among a nascent field of candidates, but some GOP insiders say they expected a larger infusion of cash and are worried that it exposes an inability to generate the excitement and, more importantly, money, needed to take on an incumbent with deep pockets.
“Those numbers certainly don’t jump out at you,” said one Republican strategist not affiliated with any of the campaigns. “Look, say what you want about Obama, but the guy can raise money. I just don’t know if any of these candidates will inspire waves of people to write that check. I hope I’m wrong.”
In addition to the roughly $20 million in cash, a super-PAC recently formed by Romney supporters will report $10 million, campaign aides say.
By comparison, Obama’s campaign is banking on $60 million in donations to his Victory Fund, coordinated with the Democratic National Committee. Many predict that Obama will ultimately raise more than $1 billion over the course of the campaign.
Showcasing the importance of the early fundraising totals, both Obama and Romney were in Pennsylvania on Thursday to drum up cash, hoping to pad contributions in the final hours of the financial quarter — the fundraising figures must be reported to the Federal Election Commission by July 15.
In a somewhat ironic position for a multimillionaire, Romney acknowledged his status as a financial underdog on the campaign trail.
“We’re not going to raise anywhere near that kind of money,” he said of Obama’s fundraising prowess after touring a shuttered metalworks in Allentown.
And the Obama campaign, hoping to meet funding expectations, made a series of last-minute pushes Thursday for donations.
“Come next fall, people might not remember this date — or make the connection between the strength of our campaign then and the steps we took in these early months. But anyone worth their salt in politics knows tonight is one of the most important tests we’ll face as a campaign this year,” said Obama Campaign Manager Jim Messina in an email to supporters Thursday.
Even under the friendliest of prognostications, it is unlikely that any of the other contenders in the GOP field will report even half of Romney’s total. Not wanting to ramp up expectations, candidates kept fundraising estimates close to the vest in the hours leading up to Thursday’s midnight deadline.
Rep. Michele Bachmann, R-Minn., who has risen in the polls after a strong debate performance in New Hampshire, is expected to report favorable fundraising numbers compared with the rest of the field. And former Utah Gov. Jon Huntsman has maintained a particularly aggressive fundraising schedule after entering the race later than most of his GOP rivals.
As for Romney, the $20 million estimate is somewhat surprising because he raised $10 million in a single day last month. And perhaps more importantly, it’s unlikely his fundraising will scare away those still mulling presidential bids, such as Texas Republican Gov. Rick Perry.
