Obama leads GOP in campaign fundraising

Three months into the 2012 presidential race, President Obama has raised an unprecedented $86 million in campaign funds, topping the $60 million goal his campaign had set. His total swamped the Republican field, which together has raised only $35 million. Obama’s take, which does not include money raised by independent groups and PACs, has surpassed the first quarter fundraising record for incumbents, set by George W. Bush. Mitt Romney leads Republican candidates with his $18.3 million war chest, followed by Ron Paul, the Libertarian candidate, with $4.5 million, and Tim Pawlenty, with $4.3 million. Analysts say the president is on track to raise more than $1 billion for his re-election bid.