Business

Obama, McCain Raised Around $21M Each In May

By  | 

Actually, Barack took $21.9 million and John took $20.9, but what’s $1 million in a campaign season?

Here’s more about their cash on hand…

McCain reported having about $32 million in cash for primary-related expenses at the end of May.

Obama reported having $43 million in hand at the start of June — but about $10 million of that is dedicated to the general election.

So they really are at near parity, and with the RNC’s cash on hand being more than 10 times what the DNC has ($53.5M to $3.9M), is it any wonder that Obama decided to forgo public financing? He’s got some massive slack to make up.

But as TPM points out…

The real numbers to watch will be June’s, after Obama sewed up the Democratic nomination and then opted out of public financing for the general election.

Estimates for Obama’s potential fundraising windfall have ranged anywhere from $100 to $250 million, but since McCain will take the $84 million in public financing for the general, Obama will have to raise at least $135 to match McCain and the RNC dollar for dollar, given the RNC’s aforementioned massive cash advantage over the DNC.

More as it develops…