The Romney campaign’s huge and monthly $100 million donation reports that seemed to out-earn the Obama Campaign. Turns out, that was a bit of an accounting trick. Most of that money was reported was bundled. With the majority of that bundle earmarked for RNC and other Republican groups.

Because of that, even when in crisis mode of trying to upright the campaign messaging, the Romney campaign is actually spending less on advertising in key swing states than the Obama campaign. And it looks like it going to stay that way. That’s a big problem. And Republican groups who don’t either believe he’s going to win, or just wants to keep the money for other races aren’t going to give it back.

Here’s an except from the New York Times article Romney Campaign Cautious With Ad Budget, Even in Key States

“Romney aides released informal dollar figures that lumped several pools of money — some available for his use, others not — into a single figure, providing a perception greater than reality: $106 million in June and $101 million in July, far more than Mr. Obama and the Democrats.

Yet those figures obscured the fact that most of the money Mr. Romney was raising was reserved for those other political entities like the Republican National Committee.

And the party committee, which Mr. Romney helped propel to record-breaking receipts in July, is allowed to spend only about $22 million on advertising that is coordinated with Mr. Romney.”