President Barack Obama speaks at a fundraising event in Austin, Texas on Tuesday, July 17, 2012. (AP Photo/Jack Plunkett)
President Barack Obama speaks at a fundraising event in Austin, Texas on Tuesday, July 17, 2012. (AP Photo/Jack Plunkett)
President Barack Obama waves as he boards Air Force One at Austin-Bergstrom International Airport Tuesday, July 17, 2012, in Austin, Texas. (AP Photo/Michael Thomas)
WASHINGTON (AP) ? Republican Mitt Romney could raise more campaign money than President Barack Obama.
An incumbent president usually doesn't raise less money than his challenger. But challengers Ronald Reagan, in 1980, and Bob Dole, in 1996, brought in more money in their presidential bids.
For Obama, coming in second to Romney would be a sobering reality. Obama was the first modern candidate to forgo public campaign funding and then went on to raise a record $745 million in 2008.
That's not to say Obama is broke or even certain to trail Romney in overall fundraising. And if he lags Romney, it's unlikely to become a determining factor in the election.
While campaigns need money to pay for staff, travel and TV ads, money alone doesn't win elections when candidates are financially competitive.
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