Obama camp spends $10M more than it raised in July

Mitt Romney's campaign, with help from the Republican National Committee, brought in more donations than President Obama's team from May through July.

The streak ended yesterday when FEC filings showed that Obama's campaign out-raised Romney by $9 million over the course of the last month. On the upside for Romney, the Obama camp spent more money than it raised in July.

Via Bloomberg Businessweek:

Obama spent $59 million in July, about $10 million more than he took in during the month. Much of that money went for television ads; between July 15 and Aug. 13, Obama spent an estimated $23.6 million on 63,735 commercials, according to Kantar Media’s CMAG, which tracks television advertising. Romney spent an estimated $10.9 million on 27,179 spots during the same period. In total, the former Massachusetts governor spent $32.7 million on his campaign last month.

[Bloomberg Businessweek]