http://news.yahoo.com/obama-bracing-outspent-romney-065038242.html
Never before has an incumbent president failed to outraise a challenger, according to the Center for Responsive Politics, a campaign finance watchdog. In Obama’s record-setting 2008 campaign, he made history in September by raising $150 million.
WASHINGTON (AP) — Barack Obama was the first presidential candidate to raise more than $100 million in a month and in 2008 was the first to forgo public money for his campaign. Now, he faces the very real threat of being the first president to be outspent by a challenger.
Obama, who four years ago broke just about every fundraising record for a presidential hopeful, has now been forced to look his supporters in the eye and confess he might not keep pace with Republican Mitt Romney. It’s a sobering realization for his campaign, which had imagined an unlimited budget for ads, offices and mail.
“I will be the first president in modern history to be outspent in his re-election campaign,” Obama wrote to supporters recently.
It wasn’t supposed to be this way. Conservatives just two years ago feared Obama would raise and spend a billion dollars in the 2012 campaign. Now, there is a real possibility that Romney and his official partners at the Republican National Committee could overtake Obama in total spending.
How did Obama go from fundraising juggernaut to money chaser in just four years?
In the early days of the 2007 primaries, he used fundraising success to puncture Hillary Rodham Clinton’s aura of inevitability. Obama surpassed Clinton’s primary fundraising in the first two quarters of that year — $25 million to Clinton’s $20 million from January to April, and $31 million to Clinton’s $21 million in the three months that followed.
The numbers shocked observers and inspired supporters to give even more to the fresh-faced, first-term senator from Illinois. But now that magic seems elusive.
“They bought into hope and change and they’re not getting it. There’s some buyers’ remorse,” said Greg Mueller, a Republican strategist who is a veteran of Pat Buchanan’s presidential campaigns.
Then, the potential was so great that Obama became the first modern candidate to bypass the public financing available to presidential candidates, and the spending limits that come with it, since the system was created in 1976 in the wake of the Watergate scandal.