President Obama “has spent more campaign cash more quickly than any incumbent in recent history, betting that heavy early investments in personnel, field offices and a high-tech campaign infrastructure will propel him to victory in November,” the New York Times reports.

“But now Mr. Obama’s big-dollar bet is being tested. With less than a month to go before the national party conventions begin, the president’s once commanding cash advantage has evaporated, leaving Mitt Romney and the Republican National Committee with about $ 25 million more cash on hand than the Democrats as of the beginning of July.”
Taegan Goddard’s Political Wire