Obama's money machine runs rich; so do House and Senate Democrats

Barack Obama raised $51 million in July, pushing the total he has raised since his presidential quest began to more than $390 million.

His take dipped slightly from the $52 million he raised in June. But he nearly matched the roughly $53 million raised by John McCain and the Republican National Committee combined in July.

Obama's $390 million in contributions (it's actually about $400 million when miscellaneous increases are counted) is significantly more than the nominees raised four years back. President Bush had raised $240 million at this point four years ago, and Sen. John Kerry had received $210 million in donations.

With the $27 million he raised in July, McCain's total now hovers at about $153 million.

Obama is spending heavily on television ads in battleground states and on the the high-priced Olympics. As a result, the Democrat's cash in the bank slipped to $65.8 million at the end of July, from $71.6 million at the end of June.

Obama expects to out-raise McCain in part by seeking more money from his army of now 2 million donors. McCain has 600,000 donors, his campaign says.

McCain, by contrast, is taking an $84-million grant of federal tax money to run his fall campaign. He also can use about $19 million in RNC money. Additionally, the RNC and various state parties can spend unlimited sums in independent campaigns on the nominee's behalf.

Despite Obama's record fundraising pace, McCain is not with his resources, thanks to the Republican National Committee itself. In addition to the $27 million McCain raised in July, the RNC raised $26 million.

McCain and the GOP had slightly more in the bank at the end of July than Obama and the DNC and its various committees, $96 million to $94.3 million.

Then there are the parties ...

The Federal Election Commission counted money raised by the national parties, their state counterparts and the main committees established to fund Senate and congressional races.

Overall, the main national Republican committees have raised $409 million and have $119 million in the bank, compared with the Democrats' $351million raised and $117.5 million in the bank.

The FEC noted that despite its lead, the Republican total is down by 12% from what it was four years ago, when the GOP controlled the presidency and both houses of Congress. Democrats fundraising is up 26%, largely on the strength of fundraising by their Senate and congressional leaders.

The Democratic Senatorial Campaign Committee raised $93.3 million to the Republican Senatorial Committee's $58.8 million. The Democratic Congressional Campaign Committee raised $109 million through the end of June, compared with the Republican National Congressional Committee's $80.3 million.

-- Dan Morain

Photo: David Paul Morris /Getty Images

Comments

[Peter]

THE GOP AND MCCAIN BETTER TAKE NOTICE, THEY ARE ABOUT TO LOSE THEYRE BASE. HUCKABEE SUPPORTERS HAVE STARTED A MOVEMENT TO TRY AND GET HUCKABEE TO BREAK AWAY FROM THE GOP. TO START A NEW PARTY. THE GOP AND MCCAIN BETTER BECAREFUL., THEY ARE ABOUT TO LOSE THEIR BASE. TAKE A LOOK FOR YOURSELVES.
http://www.mccanes.com/newparty.html

[Paul]

August will be the true test for Obama. Because McCain has to spend the money he raised for the primary before the Republican Convention, August fund raising will not help McCain much. Whereas Obama can raise as much money as he wants in August and he can use it after the Democratic Convention.

[Elizabeth]

All the Democrats started running in early 2007. So I'm not surprised.

The Republicans goal is a combined 300 million which includes the 84 million in public funding McCain will recieve Sept 4th. RNC and other groups will make up the different. This will be spend Sept right through the final days of the election

Jerry Corsi will be running ads in Oct. I guess he can now that his book is selling. Does anyone know how much Jerry will be spending?

[frederick kardatzke]

"Despite Obama's record fundraising pace, McCain is not with his resources, thanks to the Republican National Committee itself. In addition to the $27 million McCain raised in July, the RNC raised $26 million."

Why is McCain without his resources anyway?

[Shana McCarthy]

The United States spending millions upon millions to elect their leader is a grave sing against humanity. While millions on this planet earth starve and die of preventable illness, both the Democratics and Republican Parties are spending, spending, spending, and the American people are donating, donating, and donating. All Americans should be ashamed of the length and costs of our campaigns. Other nations election their leaders in just a few weeks, but, oh, no, not us Americans. We must spend and show the world how rich and wonderful we are. This is one of the reasons we are disliked; not because of Bush, but the way we live.

[chabuka]

although thrilled to see the support for Senator Obama..I find it very disturbing that over 400 million is required to "run for the Precidency"..I have read that Congressional races are also expensive... a must, to raise a minimum of 10,000 dollars a day....two things about this "constant money race" should be both disturbing and obvious to any one...our government is for sale to the highest bidder, and no wonder they can get nothing done...(when all they really do is constantly campiagn for more money)...People this has got to change...