Obama’s whopping $63 million cash-on-hand advantage

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The volatile Republican presidential primary has given President Obama an opportunity to take full advantage of an incumbent’s fundraising advantage, according to The Fix via The Political Wire.

“Obama’s campaign had $76 million cash on hand at the end of the month; the four GOP candidates had less than $13 million combined. Even better for Obama is the fact that Romney’s opponents closed the fundraising gap significantly, which will reduce Romney’s spending advantage going forward.”

Meanwhile, The Hill notes that Mitt Romney started January “with $19.9 million on hand and ended it with $7.7 million in the bank, as expenditures were nearly triple the amount the campaign was able to raise… The pro-Romney super-PAC, Restore Our Future, which by law cannot coordinate with the campaign, also announced its January fundraising figures on Monday, taking in nearly $7 million while spending twice that amount.

Peter Schorsch is the President of Extensive Enterprises and is the publisher of some of Florida’s most influential new media websites, including SaintPetersBlog.com, FloridaPolitics.com, ContextFlorida.com, and Sunburn, the morning read of what’s hot in Florida politics. SaintPetersBlog has for three years running been ranked by the Washington Post as the best state-based blog in Florida. In addition to his publishing efforts, Peter is a political consultant to several of the state’s largest governmental affairs and public relations firms. Peter lives in St. Petersburg with his wife, Michelle, and their daughter, Ella.