President Obama’s profligate spending policies are not limited to the federal government: The Obama re-election team spent millions more than it took in in May. Politico reports:
The Obama Victory Fund spent $15 million more than they raised in May, campaign finance reports show.
The campaign and the Obama Victory Fund, a joint fundraising committee with the Democratic National Committee, raised more than $54 million last month, but they spent $69 million.
The committees spent $34 million on advertising and the rest on various expenses including payroll, travel, food, and equipment.
The money burn does not mean that Obama has been left wanting. He still has $114 million padding his war chest and is ramping up his efforts to reach the $1 billion goal he set for himself.