DENVER (AP) — President Barack Obama and his party are redoubling their fundraising efforts. They’re doing it in the wake of robust hauls by Republican rival Mitt Romney and a slew of GOP-leaning super PACs that are raking in cash from party faithful who are highly motivated to topple the Democrat.

Obama still has a significant edge, but it’s shrinking rapidly.

That explains why the president is plunging back into fundraising on Wednesday with a series of events in Denver and California’s Silicon Valley. He’s looking to stockpile cash to pay for his coast-to-coast organization, advertising to promote his message and get-out-the-vote operations in key states.

WASHINGTON (AP) — President Barack Obama holds a cash advantage of more than 2-to-1 over Republican challenger Mitt Romney but the president’s money advantage is beginning to dwindle.

Obama’s campaign reported $115.1 million in the bank through April and the Democratic National Committee had about $24.2 million in its account at the end of last month.

Romney began raising money last month with the Republican National Committee and hauled in a combined $40 million, nearly on parity with Obama and Democrats, who raised about $43 million.

WASHINGTON (AP) — Former President George W. Bush is returning to the White House on May 31 for the unveiling of his official portrait.

A White House senior official says Bush and former first lady Laura Bush will return later this month for the release of their portraits. The official spoke on condition of anonymity ahead of an official announcement.

It will be a rare return to the White House for Bush, who has avoided the spotlight since he left office in January 2009.

Bush appeared with Obama at the Rose Garden following the devastating Haiti earthquake in January 2010 and accompanied Obama last year to New York’s ground zero on the 10th anniversary of the Sept. 11 terrorist attacks.

Bush’s presidential center is scheduled to open in Dallas in 2013.

WASHINGTON (AP) — President Barack Obama and first lady Michelle Obama hold assets worth between nearly $2.6 million and nearly $8.3 million, according to financial disclosure reports released Tuesday by the White House.

The documents show the couple’s assets for last year. The first family’s assets were valued between $1.8 million and nearly $12 million in 2010.

Obama released the annual report in the middle of a presidential campaign that has brought attention to the wealth of his Republican opponent, Mitt Romney. The former Massachusetts governor is worth $190 million to $250 million, with much of his money coming from investments.

WASHINGTON (AP) — A super PAC supporting President Barack Obama is airing a new ad in five states questioning Republican Mitt Romney’s commitment to workers.

Priorities USA Action is airing the ad in Colorado, Florida, Ohio, Pennsylvania and Virginia. It comes a day after the Obama campaign released a similar ad attacking Romney’s past role as head of private equity firm Bain Capital.

The new Priorities ad shows a testimonial from a former steel worker at GST Steel in Kansas City, Mo., who says Romney’s Bain Capital was only interested in making money at the expense of workers.

Romney’s campaign has said it welcomes the debate on jobs.

Eric Fehrnstrom, a senior Romney adviser, said Tuesday the ad on Bain Capital was an attempt to distract voters from Obama’s poor economic record and was “the biggest smokescreen since Mount St. Helens.”

WASHINGTON (AP) — President Barack Obama is launching a sharp critique of Mitt Romney’s business record, airing a hard-hitting TV ad that recounts the demise of a Kansas City, Mo., steel mill that was restructured by Romney’s private equity firm and led to hundreds of job losses.

The ad and events targeting Romney’s role with Bain Capital planned for this week mark the president’s most forceful attempt to define Romney’s business record before the November election.

The ad includes interviews with former workers at the steel plant, who say Bain’s role led to job losses and slashed benefits. One worker calls Romney a “job destroyer.”

Romney’s campaign did not respond to the ad early Monday.