The Note's Must-Reads are a round-up of today's political headlines and stories from ABC News and the top U.S. newspapers. Posted Monday through Friday right here at www.abcnews.com

Compiled by ABC News' Jayce Henderson and Amanda VanAllen

PRESIDENT OBAMA: USA Today's Fredreka Schouten, Gregory Korte and Christopher Schnaars: " Obama campaign spends more in May than it raises" Fighting to keep his job, President Obama spent more money than he raised in May, and ended the month with a $109.7 million in cash reserves - a more than 6-to-1 advantage over his Republican rival Mitt Romney, federal reports filed Wednesday show. LINK

The Hill's Amie Parnes: " Obama weaves Holder contempt fight into his re-election narrative" President Obama escalated a battle between his administration and the Republican House over Attorney General Eric Holder on Wednesday in ways that could benefit his reelection campaign. LINK

Politico's Maggie Haberman: " The Obama campaign burn rate and the super PACs" The Obama campaign's fundraising report for May shows the team's spending levels continue, with a burn rate north of 110 percent, according to POLITICO's breakdown on the home page. It still has a large hunk of cash on hand, $114 million, but Republicans have been scoring big on fundraising. The vast majority of that went to TV ad spending, which the campaign has done an intense amount of as its supportive super PAC has struggled with fundraising over the last year. LINK

Bloomberg's David J. Lynch: " Americans Say They're Better Off Since Obama Took Office" A plurality of Americans now say they are better off than they were when President Barack Obama was inaugurated, providing a surprising lift to Obama's re- election campaign despite troublesome economic news. Forty-five percent of those surveyed in a Bloomberg National Poll say they are better off than at the beginning of 2009 compared with 36 percent who say they are worse off. LINK

MITT ROMNEY: ABC News' Arlette Saenz: " Mitt Romney's Biggest Fundraising Day of the Campaign" Mitt Romney landed his biggest fundraising day to date with finance committee officials expecting he raked in somewhere between $6 to $8 million after two fundraisers in Michigan Wednesday. "It's hard to write a check to a politician, it's harder to get a friend to do it. You guys have done that, thank you," Romney told attendees at a fundraiser at a Marriott hotel in Troy, Mich. Wednesday evening. LINK

The Boston Globe's Mitt Viser: " Mitt Romney plans to talk economy, immigration before Latino group Thursday" Mitt Romney on Thursday is planning to give a speech before a Latino conference where he will outline new proposals on immigration, but will largely focus on how the economy has hit Hispanics particularly hard. Romney's advisers have scrambled over the past week to react to President Obama's move on Friday to bypass Congress and provide a legal pathway for certain children of illegal immigrants to remain in the country. LINK

The New York Times' Michael Barbaro: " Romney's Personal Touch Pays Off With Campaign Donors" Mitt Romney's biggest donors and fund-raisers are descending on Utah's exclusive Deer Valley resort this weekend for what invitees are calling Republicanpalooza: a two-day retreat featuring Karl Rove, Condoleezza Rice, Jeb Bush and John McCain. But the highlight for the 700 guests, who either contributed $50,000 or raised $250,000 for the campaign, will be unfettered access to Mr. Romney himself, who will deliver a speech and mingle at a cookout beside the ski jumps at Olympic Park. LINK

The Los Angeles Times' Paul West: " Mitt Romney 'trying to walk a tightrope' on immigration" As Mitt Romney prepares for his biggest campaign appearance before a Latino audience, he finds himself hemmed in on an issue of importance to many Latino voters - the future of 11 million children and adults who are in the country illegally. LINK

The Wall Street Journal's Sara Murray and Neil King Jr.: " Romney Gives Donors Added Access" Major donors to Mitt Romney's presidential campaign say that when they call, a response comes quickly. Emails are answered right away. Donors, many of them from the business world, are kept in the loop with weekly conference calls and special access to campaign strategists. LINK

IMMIGRATION / OTHER: The Washington Times' Stephen Dinan and Seth McLaughlin: " Immigration decision alters campaigns' focus" President Obama's speech Friday to one of the country's largest Hispanic organizations has changed from a potential trip through the gantlet into what amounts to a victory lap after he announced last week that he was unilaterally halting deportations of young illegal immigrants. LINK

The New York Daily News' Tina Moore and Jonathan Lemire: " Bloomberg plays coy on a possible endorsement in the presidential race, as Romney and GOP bigs prepare for Utah powwow" Mayor Bloomberg would not tip his hand on a possible White House endorsement Wednesday, first praising President Obama's social positions before ripping his job creation record just seconds later. Bloomberg, whose blessing is coveted by both the President and Mitt Romney, acknowledged that his social stances - like on abortion, gun control and same-sex marriage - more exactly mirror those held by Obama. LINK

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