President Obama and the Democratic National Committee raised a total of $70 million between July and September, according to an e-mail from Obama for America. The number exceeds his campaign's expectations of $55 million, but is still lower than what he raised in the first quarter.

The DNC said it raised $27.3 million in the third quarter of the year, meaning Obama raised about $42.8 million, far outraising his Republican opponents. Former Massachusetts Gov. Mitt Romney is the GOP's top fundraiser, bringing in $18 million in his first three months on the campaign trail.

But in order to keep pace with his 2008 numbers, the president would need to bring in $120 million for each of the next five quarters, according to the Associated Press.

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