President Barack Obama had about $88.8 million at the end of August to spend on the presidential campaign.

Alex Wong / Sara D. Davis, Getty Images

That's nearly twice as much as Republican rival Mitt Romney had at month's end.

Campaign fundraising reports released Thursday show Romney had $50.4 million to spend as of Aug. 31. He also owed $15 million on a $20 million loan taken that month.

Romney raised about $66.6 million in August to Obama's $84.7 million.

Both Romney and Obama spent about as much as they raised during the month of August. Romney spent about $66.4 million, while Obama spent about $83.7 million.

Romney and the Republican Party raised more than $111 million combined. That was less than Obama and the Democrats, who raised more than $114 million.


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