Updated at 8:43 p.m.
President Obama’s campaign spent heavily in May and shelled out more than it raised, according to a report filed Wednesday with the Federal Election Commission.
The report shows Obama’s campaign raised $39.1 million for the month and spent $44.6 million, seeing its cash on hand fall to $109.7 million. Much of the heavy spending is likely due to an aggressive early advertising campaign launched in early May that promised to spend $25 million over the course of a month.
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