The presidential campaign of Republican Mitt Romney surged ahead of President Obama last month in fundraising efforts. While Obama continued to get more money from small donors, those who give $200 or less, Romney showed new strength there. Also, big donors have enabled Romney to quickly build a strong cash reserve.
At first glance, it seems that Obama has a nice cushion of cash. Obama for America, his campaign committee, reported almost $98 million cash-on-hand, compared to less than $23 million in the kitty at Romney for President.
The Boston Globereported new details Friday about Mitt Romney's lingering ties to his private equity firm, Bain Capital, after he left Boston to run the Winter Olympics in Salt Lake City.
The Globe says Romney was "not merely an absentee owner" between 1999 and 2002, despite financial disclosure forms that say he "has not been involved in the operations" of Bain Capital "in any way," for more than a dozen years.
For weeks, Democrats have been trying to call voters' attention to the financial dealings of Mitt Romney, the presumptive Republican presidential nominee.
Supporters of President Obama, the Democratic Party's candidate, have been suggesting that Romney has exploited tax shelters and offshore accounts to build and protect his wealth in ways that average taxpayers would never be able to do.
They are demanding Romney release many years of tax returns.
As Mitt Romney has faced questions about his investments and tax returns, the likely Republican presidential nominee has responded with two words of explanation: blind trust.
Romney keeps most of his wealth in a blind trust designed to prevent him from knowing exactly where his money is and what it's doing. It's a long tradition for presidents and candidates, though anyone can set one up if he wants to.
But it turns out that not all blind trusts are equally blind. Some are cast into complete and utter darkness. Others are more nearsighted.
Given a choice between $50 now and $100 in a month, many people would take the money now. But offered $50 in a year, or $100 in 13 months, they'd wait the extra month to double their money.
The lesson: People have a "present bias," says Frank Partnoy, a professor of law and finance at the University of San Diego. "So people have more impatience in a one-month time period than they do in a one-year time period."
As deeply as the mass shootings in Aurora, Colo., shocked the national conscience, they also quickly affected the U.S. political scene, with both major party presidential campaigns ripping up their scripts for Friday, and the mayor of the nation's largest city using the issue to put the candidates on the spot on gun control.
Mitt Romney, under attack over taxes, Bain and outsourcing, is having a terrible, horrible, no good, very bad month. But he's still tied with President Obama in nearly every poll. Plus, we weigh in on potential veeps, Ron Paul and Sarah Palin await their convention invites, Harry Reid complains, and Anthony Weiner mulls a comeback. Really.
Join NPR's Ken Rudin and Ron Elving in the latest installment of the It's All Politics podcast.
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And I'm Steve Inskeep. Of all the swing states being battled over in this fall's election, the largest is Florida, the most populous is Florida. And so it's no surprise that the candidates are going be spending a lot of time there. President Obama has travelled there this week. He's making a bid for one of the largest and certainly the most famous voter groups in Florida: seniors. NPR's Greg Allen reports.
Mention Louisiana Gov. Bobby Jindal, and a lot of people still remember his 2009 Republican response to President Obama's first address to Congress. In a voice often compared to Kenneth the Page on 30 Rock, Jindal addressed viewers across the nation as if they were primary school students.