President Obama sent out a re-election fundraising email Tuesday admitting that he will be outspent in the upcoming presidential election and acknowledging the possibility of his own defeat. According to the email:
I will be the first president in modern history to be outspent in his re-election campaign, if things continue as they have so far.
I'm not just talking about the super PACs and anonymous outside groups — I'm talking about the Romney campaign itself. Those outside groups just add even more to the underlying problem. …
And, again, that's not including the massive outside spending by super PACs and front groups funneling up to an additional billion dollars into ads trashing me, you, and everything we believe in.
We can be outspent and still win — but we can't be outspent 10 to 1 and still win.