The president, despite his own warnings, will almost assuredly raise more money than Romney this presidential election. Obama and the Democrats have now raised $689 million this election cycle. Romney and the GOP have banked $613 million. Obama, who like Romney rejected public funds for the 2012 election, is on track to match or beat his record-setting haul of nearly $750 million in the last election, but will likely fall short of the $1 billion once suggested by anonymous Democrats.