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But the pro-Obama group was still left in the dust -- not only by the Restore committee's strong performance but also by the latest tally from American Crossroads, a Republican super PAC formed by GOP strategist Karl Rove. It raised $4.6 million in May. 

After early months that saw Obama reach impressive fundraising totals echoing his campaign's record-breaking $750 million haul in 2008, the changing calculus raises the prospect that he could become the first incumbent president outspent by his challenger. Romney's national campaign joined with the Republican Party in May to raise more than $76 million, outpacing Obama and the Democrats' $60 million haul during the same period. 

Super PACs can raise and spend unlimited amounts of cash but are not allowed to coordinate their efforts with the candidates they support. The national presidential campaigns can devote their cash both to media and Web ads and to turn out party faithful, but the super PACs tend to spend most of their war chests on media campaigns. 

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