Romney raises $6.5 million in January

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DETROIT (AP) — Mitt Romney raised $6.5 million last month for his presidential bid.

Romney's campaign said Monday the former Massachusetts governor also had $7.7 million cash on hand.

The campaign says that since announcing his presidential bid last June, Romney has raised almost $64 million.

Romney is far ahead of his GOP rivals in fundraising. His team argues he's the only candidate with the money and organization to win the nomination and beat Democratic President Barack Obama in the fall.

Still, Romney spent millions to win the Florida primary and is facing tough contests on Feb. 28 in Michigan and Arizona. On March 6, Super Tuesday, he will have to compete across the nation in expensive contests.

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