Business

Obama Raises $52 Million In June

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Obviously this is big news, and it nearly matches the record breaking $55 million he raised in February. Also, McCain raised $22 million in June, so Obama is obviously running circles around the Arizona senator when it comes to fundraising.

However, when you look at how much the McCain camp and the RNC has combined, you’ll understand why Obama opted out of public financing for the general.

Obama’s money + DNC’s money = $72 million

McCain’s money + RNC’s money = $95 million

So the money situation actually doesn’t favor Obama right now. That may all change during the general election, but for now McCain has the upper hand.

UPDATE:
Hmmm…Talking Points Memo has different numbers that don’t put the Dems very far behind the Repubs…

The Democratic National Committee raised $22, 481,194 in June, spokesperson Karen Finney says.

The DNC’s cash on hand total $20, 306,056.

That puts the total combined Obama and DNC cash in the bank at over $92 million — very competitive with the GOP/McCain total of nearly $100 million.

From a $23 million dollar deficit to an $8 million dollar deficit?

Who’s right?