Last month the Obama team managed to barely beat the Romney team in fundraising after trailing them for the last several months. In August, the Obama campaign and related Democratic committees brought in roughly $3 million more than the Republicans.

According to the Romney team, the official Romney campaign and the RNC brought in $111.6 million in August to help elect their candidate. They now have roughly $168.5 million cash on hand to spend in the next two months before the election.

On the other hand, the Obama campaign and related committees announced that they raised $114 million in August. While the extra $3 million this month is unlikely to determine the election, it is a psychological victory for the Obama team. The Democrats’ inferior fundraising was being interpreted as a sign of a lack of intensity among Obama’s supporters.

It is interesting that the Obama team managed to beat the Romney team in August even though it was the month Paul Ryan was announced as the VP pick. Ryan is known as a strong fundraiser and was seen as a choice to excite the Republican base. This didn’t seem to translate into greatly improved fundraising for the Romney campaign, however.