Sen. John Kerry is pulling out the biggest of warnings: In a fundraising email headlined “President Romney?!” he is raising for the first time the possibility that Mitt Romney could win the presidency.

Referring to his own paper-thin 2004 loss to former President George W. Bush, Kerry is trying to scare Democrats into giving the Obama campaign one last donation so that President Obama isn’t outspent by Romney, though September financial records show that Obama outspent Romney two to one.