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Axelrod On Campaign Spending: "Yes, I'm Concerned About Money"

Obama senior campaign strategist David Axelrod tells CBS's Nancy Cordes that he is "concerned about money.

Axelrod was interviewed by Cordes for the CBS's web series, "Face to Face."

Nancy Cordes: Well you know CBS might have something to say about that. But they've taken on a bit of a desperate tone lately, saying we need the money, we have to have the money. Do you have a money problem?

David Axelrod: Well we have a problem in that, because of new changes in the law that the Supreme Court ruling Citizens United opened up, there's unlimited spending among these third party groups, these Super PACs against the President. And we've seen upwards of $100 million, probably close to $150 million spent on negative ads by these groups. So we're not only having to contend with the Romney campaign and the Republican party but all these outside groups as well. So we're in a position no president's ever been in before, where despite all the fundraising we've been able to do largely in the grassroots and small donations, we're contending with these big forces. So yes I'm concerned about money.

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