Obama raises $75 million in July-compared to Romney’s $101 million

President Barack Obama raised $75 million in July, falling well short of Mitt Romney for the third straight month with barely 90 days left before Election Day. The Republican standard-bearer scooped up $101 million.

The Obama campaign announced its haul on Twitter, saying it had 761,000 donors, including 201,000 who had not given before, either in his election cycle or in 2008. "Every bit helps," it said, underlining that 98% of contributions in July were $250 or less, with the average gift $53.49.

Obama and top campaign officials have been warning in increasingly worried tones that Romney will outraise them and, with the help of super PACs, will flood the airwaves in a potentially decisive ad blitz. The campaign sent a wave of email appeals for cash ahead of the president's 51^st birthday on Saturday, and he himself has been on a breakneck fundraising pace, but still fell short.