Candidate reports show finance gap

WASHINGTON - With just over a year left in the race for the White House, campaign finance reports released Saturday offered the first detailed look at the haves and the have-nots among the Republican presidential candidates.

Two of the top Republican contenders, former Massachusetts Gov. Mitt Romney and Texas Gov. Rick Perry, brought in more than $14 million and $17 million respectively. Meanwhile, candidates including former Sen. Rick Santorum of Pennsylvania and businessman Herman Cain raised significantly less.

The financial reports show how flush some GOP candidates are with cash - and how nearly broke others are - heading into the final weeks before contests in key primary states.

Reports on two of the biggest money-raisers so far - Romney and President Obama - reveal millions in contributions from party devotees and small donors alike.

Reports filed late Friday offered a mixed financial picture of the field, with Obama raising more than $70 million between his campaign and the Democratic Party.

At the same time, GOP candidates raised a combined $52.6 million, more than the $42 million Obama brought in through his campaign alone.

Other candidates are saddled with debt, including former House Speaker Newt Gingrich, former Utah Gov. Jon Huntsman, and Rep. Michele Bachmann of Minnesota.

The reports did not include the tens of millions of dollars raised by new, outside groups known as super political action committees, which can collect unlimited amounts of money to influence elections.

Leading contenders Perry and Romney have at least one super PAC each working to boost their candidacies, and another group is backing Obama's reelection bid.

Rep. Ron Paul of Texas, a favorite among libertarians, collected $8.2 million, spent $7.5 million during the period, and has no debt.

Santorum reported raising more than $700,000 during the quarter, spent nearly $750,000, and owes about $70,000.

But some in the GOP field owe much more, particularly as their campaigns struggle to compete with big money that fuels increasingly expensive elections.

Gingrich owes the most among all candidates who have filed so far, with more than $1.1 million in debts for expenses such as office supplies, direct mail and outside experts - including $5,250 for a "Hispanic outreach consultant" and $724 for a "social media consultation." His campaign raised about $793,000 this period, about a third of which came from small donors.

Bachmann, a leading tea party figure, reported nearly $550,000 in debt after raising $3.9 million. Her expenses included more than $130,000 spent on chartered flights with Moby Dick Airways of Virginia. She also owes former campaign chair Ed Rollins about $30,000.

And while Cain's report said he raised $2.8 million and has $1.3 million in the bank, the former Godfather's Pizza chief executive officer loaned his campaign $675,000, most of it borrowed in the spring.