Fundraising Race Between Dems, GOP Nearly Tied Overall

Barack Obama's campaign and the Democratic National Committee began August with just over $94 million in the bank, putting them very close to the $96 million figure controlled by John McCain and the RNC at the start of the month.

The Democrats' near-parity with Republicans in the overall fundraising chase was in large part powered by a $51 million July for the Obama campaign, which reported 65,000 new donors in a Saturday statement to the press. More than 2 million people have now contributed to the campaign.

"The 65,000 new donors to the Obama campaign demonstrate just how strongly the American people are looking to fundamentally change business as usual in Washington," said David Plouffe, campaign manager of Obama for America.

Also on Saturday, the DNC announced that it outraised its GOP counterpart in July for the first month since October 2004, pulling in $27.7 million to the RNC's previously reported $26 million. The DNC began August with just over $28 million in the bank, which, combined with Obama's $65.8 million, has placed the two parties on near equal footing for the first time this year. The Democratic National Committee's fundraising had lagged behind that of the RNC all year, as many of the party's donors poured their funds into an extended, expensive primary battle between Barack Obama and Hillary Clinton.

Now, however, the trend appears to be reversing. By point of comparison, Republican committees had a $33.5 million advantage over Democratic ones at the beginning of July.

However, despite the current closeness of the two parties' respective bottom lines, Obama and McCain have distinctly different financial futures in front of them. John McCain is prepared to burn through his $21 million in remaining primary season cash before the Republican convention, since he cannot spend those funds in the general election. By agreeing to participate in the public financing system, the Arizona Republican will receive $84 million in government money after his convention. On Friday, McCain's campaign manager said they anticipated beginning September with over $100 million, including RNC funds.

Obama, by contrast, will have to keep his fundraising machine operating at full steam through the general election. However, if his recent pace of fundraising can hold, he should raise nearly $20 million more in September and October than McCain will have to use from the government. In addition, Obama will be able to use leftover cash from his primary campaign coffers. So while McCain is forced to burn through the rest of his current cash on hand by month's end -- including a $6 million OIympic ad buy -- one would expect to see the Illinois Democrat's campaign conserve some resources this month for use after Labor Day.

Comments

[TrueThis]

I just sent more money to Obama's campaign. I'm dying to see how much his funds will be in August especially after the convention.

[Pepper14]

What I don't understand is Obama raises all this money and opens offices, has tv ads and etc. but all he seems to be able to do is tie McCain in the polls. I think all this money could turn off a lot of voters.
I think voters are more interested in what you stand for than how much money you can raise. I don't know one voter that says they voted for the person that raised the most money. I also disagree with the comment that Obama did well in the form last night. He looked aloof and I didn't see where he feels anybody's pain.

[Heavenhelpusall]

Well if money turns off voters then repugs will be staying home. Two million donors at an average of $68 a pop says grassroot level support, confidence, hope.

[bluzz]

No one is saying vote for Obama because he has more money, he has to raise more money to keep they lying scoundrels in the Repug party from lying about his record and statements. It seems that McSame can only speak about Obama and nothing about what he will do. Saying you are going to win in Iraq is not a plan it's an outcome of which he has not presented a shred of a strategy.

I would also expect you to say the opposite if McSame raised more "see, America agrees with Mc Same because they gave him more money"..........

[BobsNotWorking]

You think all "this money" could turn off a lot of voters? Who is it that you think is providing the money?

Tie McCain in the polls? Really? Take a look at the polling state-by-state. That's what really matters - the electoral college. Of course, small movements in state polling can result in large swings in electoral college projections, but as of now Obama has a significant lead in most electoral college calculations.

Obama looked aloof? At least he answered the questions. McCain didn't even attempt to answer many of the questions. Nearly every response included some reference to his experience as a prisoner of war. All McCain did was repeat his stump speech talking points in small sound bites as if they were responses to the questions being asked.

[TrueThis]

McBush is a warmonger. He shown himself last night at the forum. It's strange though, that most of the troops are funding Obama campaign than McBush, weird.

[kennedy]

What percentage of people in America have donated to either the Mc Cain or the Obama campaigns?

0.9% per MSNBC

Now that is a shocking number!

[julescator]

Those of us who send money to obama monthly sure are happy with how he is running his campaign. he is a great stewart of our money. He is not frivilous. time to send some more money for august!

[BobsNotWorking]

Indeed. It's become part of my monthly budget.

[cruisepuppy7452a]

Actually, once the ethics committee gets ahold of Mccain, Obamma will be ahead of him. McCain broke his own law that he and Feingold set up on campaign finance reform. John took money made from the Paris, Brittany ads that wasn't authorized. Neither celeb gave written consent to use thier likeness, in any form of ads for him. No mention of how they would be paid, no residuals for them when the ads ran, and he can't call it an "IN KIND" donation either as that also wasn't arranged in a contract with the celebs or thier attorneys and agents. Therefore, the money he got as a result has to be returned to the celebs and the donars or he risks serious ethics violations. MCcains ad agency knew the rules and chose to break them. They didn't think anyone in the business would be watching or pick up on it. We did and are mad as hell. If Obamma had done this, he would be sued, called on the carpet for it. McCaain will have to forfit millions earned as a result of the illegal ad. He cannot plead ignorance as he approved it. He screwed himself.

[Pepper14]

They have already said that McCain didn't break any laws. Keep up before you comment with false information.

[Heavenhelpusall]

The post reflects a new and different charge. Read much?

[bluzz]

Pot calling the kettle black? This is a different violation that they don't report about on Faux news.

And the one you are talking about is breaking the law even if FEC says it is not. It Breaks almost all Fiduciary laws ever created- McSame secured a loan by Signing a contract with the Gov't that he would accept federal funds in the Primary, then when he got the loan he back out of the Federal funds but, kept the loan. Nice ethics there.

Imagine if you secured a loan with your house and then sold the house without satisfying the loan- YOU GO TO JAIL!

[OutsourcedAgain]

Gee all this time I thought Obama was kicking a** in the fund raising department. What the heck happened? Earlier McSame nearly had to drop out because his campaign was going broke. I guess he got a big influx of cash from all those rich (but not happy) people he won't tax.

Big Oil, Big Oil, Whammy

[Heavenhelpusall]

I am not a math wiz but I think there is a slight difference between 27 and 51. With the new math I could be wrong. The total figures include RNC and DNC money. Read much?

[Cyril]

Obama IS smashing McCain in the fundraising stakes. He's raising record amounts of money and he will have loads more to spend over the next few months. The reason why the fundraising amounts are tied overall is because the Republican National Committee has greater fundraising power than the Democratic National Committee. Back in 2007, when McCain was running short of cash, he obviously didn't have access to the RNC's enormous cash pool. Now he does. But at the moment, Obama is doing a fantastic job of making up that gap (in a big way).

[MarciaJ720]

The battle between Hillary Clinton and Obama used up (wasted) a lot of funds that have been raised by Democrats.

Clinton is now officially a sore loser in my mind and her following are not true Democrats or feminists either (threatening to vote for McCain shows their immaturity).

[SciVo]

Obama raised a lot more than McCain, but he also spent a lot in the primaries vs. Clinton. (He raised almost $200 million more and spent over $160 million more, ending up with about $35 million more cash on hand.) However, the Republic party's base is the haves and have-mores (as G.W. kindly explained), and the party national committees have much higher donation limits, so the RNC was able to outraise the DNC.

The DCCC and DSCC have handily outraised their Republic equivalents because money buys access and big business can see who's going to be in power in Congress. With the primaries effectively over, Democratic fundraisers have finally been able to turn their attention to the DNC, so it should at least not fall behind the RNC any more. Obama will presumably continue to outraise McCain, thanks in no small part to his broad base of small donors (such as myself) who are nowhere near the legal limit yet.

[dgscol]

What ever do they do with all this campaign money? It does not seem to improve their campaigning any.
Obambi says he takes it, because he has to, in order to stop the war. Does that make sense?

Does anyone investigate how this money is spent?

[lunchbag]

Radio, TV and newspaper ads, booking halls for speeches, travel expenses and other things. It swallows cash.

[u193302]

Among these, Obama is using our campaign money to open field office across the country to really show that he is serious about running an National campaign and not a battle/swing state campaign.

[WLA]

But he's not going to talk about viet nam. Just half of his time.

[WLA]

But he's not going to talk about vietnam. Just half of his time.

[rockyroad]

McCain doesn't attend church . . . laughable.

Mc cheated on his first wife, cheated on his second wife, has left a trail of all of the women whith thom he has cheated . . . he has called his wife a c** in front of the press, joked about rape as if women want to be raped by aped (racian overtones?), suggested that his wife, Cindy, enter a wet tee-shirt contest, and cancelled a fundraiser by Clayton Williams, who compared rape to a thunderstorm (and consequently withdrew from the Texas race for governor).

He has admitted that he kknows nothing about economics or technology. He's hoping to get on the internets soon.

Lord help us all.

[maxdenn]

I can say lots of things about Sen. Obama. That he's smart, and knows the issues and seems to care about folks, etc. And he is never rude, and has class. I really like that. I think he did well at Saddleback tonight.

[Nochnoi]

I agree completely........ so much class! Mikkey is giving his usual poly stump talk....... yech.... same rhetoric... nothing like O, who gave well thought out answers........

If he says, "my friends" one more time I am going to retch!

[BabsfromKansas]

I tried to watch - but I just can't stand him!

[WLA]

Who are people who you would listen to?
McFudd says: Petraeus.

[WLA]

McFudd says: The lady who runs EBay, meg Whitman

[BabsfromKansas]

the wady who wuns e-bay??

[CrapWhisperer]

.

I wish I'd get a dollar

For every pugz who'll holler

"We never had a chance

We went with the worst date

Didn't know it until it was too late

We never had a chance"
.

I wish I'd get a dollar ...
.

[Nochnoi]

Babs from KS.... the other half of the show is about to start.......

[BabsfromKansas]

THANKS!!!

[Nochnoi]

Your welcome... my pleasure.... but Oooooooo he is so icky!

[CrapWhisperer]

.

Wow!

Watching this is making me see Jeeeebus!

Oh wait ... that's Juan my landscaper pro.
.