Obama warns of loss if more don't donate

President Barack Obama is concerned that presumptive Republican nominee Mitt Romney is outspending him and is shaking his cup towards donors via email, asking them for at least $3.

President Barack Obama is concerned that presumptive Republican nominee Mitt Romney is outspending him and is shaking his cup towards donors via email, asking them for at least $3.

There is also a hint of scare tactic in the message, as Obama is warning he may lose the election if donors don't grant his request.

“We can be outspent and still win - but we can't be outspent 10-to-one and still win,” Obama said in the email. As an extra incentive for his donors to open their pocketbooks, he adds, “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.”

Last month, Romney and Republicans out-raised Obama and the Democrats for the first time, collecting $76.8 million, compared with the Democrats' $60 million.

Obama's fundraising woes could be conveying two key messages. The first is that big donors think Romney can win and that Obama's major 2008 supporters have doubts. The second is that Obama's incessant criticism of Romney's Bain Capital career has disenchanted donors from Wall Street and Main Street, according to The Washington Post.

From an image standpoint, Obama can be hurt if he continues to trail Romney and Co. in fundraising. Campaigns use their money-raising prowess to demonstrate the appeal of their candidate to the public.

Yet many others feel that if Obama loses the election, it will be because of the state of the economy, not the size of his campaign treasury.

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