Bye-Bye Billion Dollar Campaign?

Less than a year ago -- April 2011 -- we were hearing a lot about how President Obama's 2012 reelection campaign was going to raise the "unprecedented" sum of $1 billion.

So how's that going?

As it turns out, not so well. According to a piece in National Journal, the Obama campaign plus outside groups have banked $98.3 million. The Romney campaign plus outside groups have a total of $94.1 million. And the RNC has raised more than the DNC.

There are many advantages of incumbency. But for right now, it looks like the Obama fundraising projections may be falling as fast as the President's approval ratings.