No, not just a US deficit – but a personal, campaign deficit:
Amid a heavy barrage of advertising by opposing “super” political groups, President Barack Obama’s re-election campaign spent more than it collected in June. While outraised again by Republican Mitt Romney…
To be sure, at the end of June Obama still had nearly $100 million on hand, but the fact that he’s burning through money faster than he takes it in doesn’t bode well – he’ll needs sacks of cash for the September-November sprint and right now it appears that Romney will at the very least match him and may end up outspending him (and this is keeping out of the picture the super-PACs working for both sides). This is undisciplined – this is a campaign which is not running effectively. The vaunted Obama machine seems to be getting itself in to trouble – but no surprise to me because I never had any respect for Obama’s 2008 effort…he coasted to a win against a man who simply refused to hit hard (Obama also had a huge number of outside factors working in his favor).
But here’s the real kicker – with all this massive advertising and spending more than he took in, Obama didn’t move the electorate even an inch closer to him. Even the biased, pro-Obama MSM polling still shows him in a bad position: approval rating under 50%, now less than four months before election day.