WALTHAM, Mass. - Mitt Romney's campaign announced today that it raised more than $170.4 million in September, marking the best fundraising month to date for the Republican nominee.

But Romney's fundraising loot still came in under that of President Obama and the Democrats, who reported raising $181 million in September, the most an incumbent president has ever raised in a single month before his re-election. The Obama campaign has not released how much they have in cash on hand.

Romney, along with the Republican National Committee and the Romney Victory Fund, reports having $191 million in cash on hand.

"Americans can't afford four more years like the last four. Mitt Romney and Paul Ryan are offering voters a vision for our country that will grow the economy, increase incomes, and bring relief to the middle class," Romney's National Finance Chair Spencer Zwick said in an e-mailed statement. "That is why we are seeing such strong support from donors across the country. With less than one month left, we will continue the hard work of raising the resources to ensure that Mitt Romney and Paul Ryan can win in November and bring real change to the American people."

In August, Romney raised $111.6 million to Obama's $114 million.