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    Obama Out-Raising Romney In 'Battle Of The Terms'

    "Two-term fund" quickly catches up to Romney's.

    Yesterday the Romney campaign announced a $1 million fundraising drive called the "one-term fund" to defeat President Barack Obama this year, and the Obama campaign quickly countered with a $2 million "two-term fund."

    Despite the head start, Romney's campaign appears to have fallen behind Obama's fundraising operation, with the president's reelection campaign raising at least $960,636, according to the online ticker.

    Romney's team is using the image below to keep track of its haul.

    UPDATE 12:16 p.m.: Obama has raised $1,064,354, while Romney's updated graphic shows him below $1 million.

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