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Obama outspent Mitt Romney in last days by more than $71 million...

 AP

AP

In late June, his fundraising machine struggling, President Barack Obama darkly declared to supporters, “I will be outspent.”

So much for that: As the presidential election reached its climax, Obama’s campaign spending dwarfed that of Romney’s campaign, outspending its Republican counterpart by more than $71 million between Oct. 18 and Election Day, according to documents filed Thursday night with the Federal Election Commission.

Such spending, coupled with the late, but heavy support from friendly super PACs and union groups, boosted Obama’s fortunes in key swing states such as Florida, Virginia, Iowa, New Hampshire, Colorado, Nevada and Ohio, all of which he won.

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