Mitt Romney Super PAC Down To Only $6 Million Cash On Hand After Major Spending In August

Romney Super PAC Running Out Of Cash Fast

WASHINGTON -- After banking more than $20 million through the middle of the summer to beat President Barack Obama, Restore Our Future, the super PAC supporting Republican presidential nominee Mitt Romney, ended August with only $6 million cash on hand, according to a report filed Thursday with the Federal Election Commission.

The powerhouse super PAC, run by former Romney aides and instrumental in helping him secure the Republican nomination, raised only $7 million in August, while spending $21.1 million. The heavy spending seems to have had little effect, as most polls have shown a surge for Obama at the national and state-by-state level since the early September Democratic National Convention.

The $7 million raised came from a nearly even split of corporations, which gave $3.34 million, and individuals, who donated $3.66 million. The figure could be worrisome, as the super PAC held a number of high-profile fundraising events in late August during the Republican National Convention in Tampa, Fla., and managed to raise less than it did in either June or July.

Restore Our Future has reportedly been out-raised by the pro-Obama super PAC Priorities USA Action. The New York Times reported that Priorities, which struggled early on to raise money, took in $10 million in August. (Its report, due in today, has yet to be filed.)

Restore Our Future spent most of its money on advertising in big swing states. According to data collected by the Federal Communications Commission, the group focused a lot of money in Florida, a key swing state. The group spent $3.33 million on advertising in the state's top five media markets, which include Jacksonville, Miami, Orlando, Tampa and West Palm Beach.

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