Phil Matier: Cashing In On the Campaign Trail

SAN FRANCISCO (KCBS) – Cash is king in the campaign to be president, and the latest figures show one candidate outpacing the other by nearly $20 million.

President Obama took in an estimated $84 million in donations for reelection in August 2011, according to figures just released. Republican challenger and former Massachusetts Gov. Mitt Romney had a fundraising haul estimated at $66 million during the same time period.

And, there were no signs that the pace of fundraising was slowing. Quite the contrary, with the race considered a close one, both sides were expected to appeal to supporters for more money in the last weeks on the campaign trail.

A word of caution, however, from the pundits: the fundraising numbers being floated weren’t necessarily the true numbers because of what’s described as a “huge” amount of money in independent expenditure committees that do not have to report anything – who gives it, how much – to elections officials.

Obama is said to be at a tremendous disadvantage when independent expenditure committees are considered in fundraising totals.

KCBS, CBS 5 and Chronicle Insider Phil Matier:

Romney was expected at a private fundraising event in Hillsborough Friday. Tickets were said to cost between $1,000 and $50,000 per person.

Obama’s campaign announced plans to fundraise San Francisco on Oct. 8.

(Copyright 2012 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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