In Case If You Are Keeping Track Of The Money Chase, Barack Obama Raises Over $51 Million In July; John McCain Raised $27 Million!

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CHICAGO — Democratic presidential candidate Barack Obama raised more than $51 million in July and the Democratic National Committee reported $27.7 million in donations last month, putting Obama in a strong position for the fall campaign.

Obama began August with $65.8 million on hand and the DNC had $28.5 million available, according to statements released Saturday. His July total was slightly less than the $52 million he raised in June but still eye-popping because he was off the fundraising circuit at home during his trip to the Middle East and Europe.

Obama's Internet-powered fundraising efforts have shattered all previous records for a presidential campaign, bringing in a total of $390 million so far.
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By contrast, Republican candidate John McCain has raised just $140 million and has agreed to accept public financing for the general election and the spending restraints that come with it. Unlike Obama, McCain will not feel the intense pressure to raise money in the fall.

Though lagging Obama in fundraising, McCain has remained competitive because of the Republican National Committee's success in attracting donations.

On Friday, McCain's campaign said the presumed GOP nominee had raised $27 million in July, his biggest monthly haul since clinching the party's nomination. McCain's campaign reported having $21 million available to spend.

The RNC said Friday it had brought in nearly $26 million in July and had $75 million on hand to compete with the Democrats. Much of that money has come through fundraisers by President Bush, unpopular nationally but still a potent draw among those who donate to the GOP.