Romney trounces Obama in fundraising for 3rd straight month

WASHINGTON (AP) — Can Barack Obama raise the money he needs to hold onto the White House?

Money wasn't supposed to be a worry for the president's campaign, which smashed fundraising records in 2008. But Mitt Romney's team has hauled in more than Obama and his allies for a third straight month, raising the once-unthinkable question.

While the race for voter support is tight, according to polls, Romney's robust fundraising and a crush of money from Republican-leaning political-action committees have forced the president's campaign to spend heavily through the summer.

Highlighting the challenge for Obama, Romney on today reported a July fundraising haul of more than $101 million along with the Republican National Committee, compared to the $75 million that Obama's campaign said it had brought in along with the Democratic National Committee.

Before Romney's summer surge, Obama had not been outraised by an opponent since 2007.