President Barack Obama’s campaign and 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.
Most of the ad budget – $29 million – was spent on traditional television advertising and the costs of making those ads, representing a shift to the general campaign after Mitt Romney cinched the Republican nomination. But the campaign continued to spend big on online advertising, dropping more than $5 million last month.
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