July fundraising reports are due on Monday, but as is custom, both campaigns have leaked numbers prior to the deadline. For the third consecutive month, Gov. Romney and the GOP has significantly outraised President Obama and the DNC. The Romney campaign reported receipts of over $101 million while President Obama brought in approximately $75 million. Additionally, the Romney campaign claimed to have raised $3.5 million in the 24 hours following the announcement of Rep. Paul Ryan as the GOP vice presidential nominee. Perhaps more startling than fundraising numbers is the amount of money spent on advertising for the 2012 election cycle. According to NBC News Domenico Montaro, The Obama and Romney campaigns have so far passed the half billion dollar mark spending a combined $511 million.

As week one of the new Romney-Ryan ticket draws to a close, the election has reached a fever pitch. Both campaigns have ramped up their schedules with more rally’s, bus tours and fundraisers in swing states like Virginia, Ohio, Florida, North Carolina and Wisconsin. With the addition of Ryan to the race, the messaging from both parties has begun to center around Medicare and the federal budget. The Ryan choice was undoubtedly made to call attention to these issues as they fall under the purview of Ryan’s leadership in his post as the House Budget Committee Chairman.

Notes from trail:

• Former Governor Tommy Thompson won Tuesday’s crowded Republican Wisconsin Senate primary garnering 34% of the vote, beating his next closest competitor by only three points. Thompson narrowly defeated businessman Eric Hovde, who spent millions of his own money on the race, as well as former U.S. Representative and tea party backed candidate Marc Neumann. Thompson will face Representative Tammy Baldwin (D) for the seat being vacated by retiring Senator Herb Kohl (D). Kohl’s seat is seen as a toss-up and will be important in determining control of the Senate.

• Linda McMahon (R) and Chris Murphy (D) cruised to their party’s nominations for the Connecticut Senate seat being vacated by retiring Senator Joe Lieberman. McMahon is the former CEO of World Wrestling Entertainment, Inc. (WWE) and has so far spent more than $15 million of her own money on the race. Murphy is a well known three-term congressman from Connecticut’s fifth district.

• Representative Dennis Cardoza (D-CA) announced Wednesday that he would resign prior to the end of his term. Cardoza had originally planned to finish out his term, but cited family issues as well as the lack of substantive legislative work being done during an election year as the reason for leaving early. Cardoza lives with his wife and three children in Maryland. A couple of hours after his announcement, Cardoza was named managing director of a top Washington D.C. Government Affairs firm.